Tuesday, March 10, 2009
BBC report on latest housing “boom to bust”
UK property sales between December and February remained at their lowest level in at least 31 years, the country's surveyors have reported. Nine homes were sold per surveyor in the three months, the lowest since the Royal Institution of Chartered Surveyors' (Rics) survey began in 1978. This was despite the four consecutive months of rising enquiries by new buyers as affordability improved. Meanwhile, house builders said construction may hit an 88-year low. "After years of boom, the housebuilding industry is lurching towards bust," said Ruth Davison, director of the National Housing Federation.