Friday, April 25, 2008
Sales down 50%, mortgage approvals down 50%, anyone see a pattern developing?
Property sales decreased further in March with on average 7 sales reported per agent, down from 8 in February 2008. In comparison to the same time last year when 14 sales per agent were reported, this figure is depressingly low for the beginning of the Summer period and are similar to figures expected during the Easter period. The good news is that within the last few days there are some reports of an increase in activity which may be as a result of the Government and Bank of England's clear desire to find ways around the credit crunch.