Monday, April 5, 2010
Plummeting transactions spun as good news for house prices
Housing transactions over the last two years have struck a record low, building pent-up demand from 1.5m potential buyers that is waiting to explode on to the market, according to new research from Savills. Savills says the buyers who stayed out of the market could drive "several years of relatively high house price growth" if mortgage lending eases and they return. "The extent to which transaction levels have been suppressed, means that significant pent-up demand for home ownership is building."