Thursday, January 3, 2008
These are better indicators of the upcoming house price crash
"From retail gloom to more property market woes. The latest victim of an increasingly jittery housing market is residential property group LSL Property Services. LSL's estate agency division, which operates under the YOUR MOVE and Reeds Rains brands, was forced to admit this morning that business volumes slumped by around a third in the second half of 2007. That news has left its shares down 7.5p, or 5.4%, at 131.5p. As a result of the estate agency troubles it is in the process of closing 12 underperforming branches and slashing 200 full time jobs." That means a market recovery is not in sight... sorry optimists!