Thursday, October 21, 2010

“Subdued”

Housing market 'subdued'

The housing market remained subdued during September with falls in both sales levels and mortgage approvals for people buying a home, figures showed today. The number of homes changing hands fell for the second month in a row as potential buyers continued to stay away from the market. Around 78,000 properties worth more than £40,000 were sold during September, well down on pre-credit crunch levels for the month of more than 120,000, according to HM Revenue & Customs. Activity in the housing market looks set to remain muted going forward, with lenders reporting a further drop in the number of mortgages that were approved for house purchase during September. The Bank of England's Trends in Lending report showed that mortgage approvals for house purchases by the major lenders had fallen...

Posted by mark wadsworth @ 12:59 PM (1108 views)
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2 thoughts on ““Subdued”

  • sibley's b'stard child says:

    I do wonder if press officers share a tome of ‘acceptable’ adjectives – subdued, muted, modest, gentle-decline, bumping-along.

    Crash and double-dips are a definite no-no.

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  • I see the number of houses generally available is 800000 (home.co.uk), of which I know for a fact that about 150000 of these came onto the market in the past year. Let’s assume new properties make up 20% of the market. That means there’s at least 90000 empty new properties just left standing. Seems new properties are being built, but only advertised for sale in drip feed fashion. Sounds like there’s something dodgy going on.

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