Tuesday, June 21, 2011

Dull and boring article, posted for completeness

Property sales 'subdued in May'

Property sales in the UK remained at a relatively low level in May and lower than the same month a year ago, new figures show. Some 68,000 homes were sold in May, down 2,000 on the revised total of a month earlier, according to HM Revenue and Customs data. The total was also 3,000 down on the same month a year ago. Lenders say there is little chance of a rebound in the coming months, judging by mortgage data.

Posted by mark wadsworth @ 02:37 PM (1342 views)
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2 thoughts on “Dull and boring article, posted for completeness

  • Nothing dull and boring about this bit of wisdom

    “Property market commentator Henry Pryor said the low level of sales could have a knock-on effect on related industries. “Much of the wider economy relies on a healthy housing market with money spent in the High Street on home improvements as people buy and sell,” he said. “Many jobs in the building and decorating businesses rely on a healthy turnover as well as those more directly employed like mortgage brokers, conveyancers and estate agents.”

    In summary almost an entire economy relying on a “health housing market” (whatever that is) – basically without lots of properties changing hands for ever increasing amounts and people using equity to fund consumer spending the country is Donald Ducked.

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  • hey maybe we’ll be able to get trades in to do stuff without them asking for a small mortgage. you know like in the old days, when a new kitchen didnt require a bank loan or re-mortgage. 😛

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