Tuesday, January 8, 2008

London buyers are drying up fast

Number of home buyers drops to three-year low

The number of buyers looking for new homes in London has hit one of its lowest levels for three years. "The credit crunch has made people take a step back and adopt a more balanced approach. There is now a more healthy balance between buyers and sellers." A straw poll of other estate agents in London showed most now have fewer buyers and sellers on their books than a year ago." Douglas and Gordon has seen a 30 per cent fall in both. Director Ed Mead said he expected the number of buyers to continue falling as people held on for better deals.

Posted by doomwatch @ 01:14 PM (582 views)
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2 thoughts on “London buyers are drying up fast

  • “In 1995 there were almost eight buyers per property.”

    but wasn t that the same 8 to 1 ratio they were claiming at the end of the boom year 2006 ?!
    what a TURKEY

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  • interesting. does not look too good for the london market.

    http://business.timesonline.co.uk/tol/business/industry_sectors/support_services/article3152557.ece
    International growth drives Michael Page
    The recruiter said the credit crunch is beginning to take its toll on the banking and financial services jobs market
    … the company did report some weakness in demand for staff in specific parts of the UK banking industry, in a sign that the fallout from the credit squeeze and recent financial upheavals is beginning to take a toll on the jobs market in the City and wider financial services industry.

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