One sale per week
The slump in the housing market continues as some estate agents report selling only one house per weekover the past three months. There are plenty of properties out there to buy and there are plenty of people wanting to buy them. The difficult bit is actually raising the funds to buy a property as mortgage providers continue with their overly cautious outlook on life.
The cost of borrowing has come down over the past few months, which is a positive step, however decent deals are only available to those with around a 25% deposit to put down. And for all the Government’s talk of kick starting the housing market, the suspension of stamp duty simply isn’t enough. Until liquidity returns to the mortgage market, the housing sector will continue to suffer.
Tags: estate agents, housing, Mortgages
