Housing market going downhill

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Housing market going downhill

A recent prediction will see house sales reach their lowest since World War 2 as the number of sales across the UK falls. The figures from the Council of Mortgage Lenders show that only 810,000 houses will find a buyer compared to the normal figure of 1.3 million. Some estate agents are only managing to sell 1 house a week and report that the lack in the number of sales is brought on by the shortage of houses coming onto the market. The first nine months of 2009 saw only 580,000 houses sold this is less than half those sold during 2007 before we where struck with the recession.

Perhaps the worst prediction of the year comes from CML saying that around 48,000 people will face eviction this year, which is the highest number the UK has seen in 14 years.

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November 16th 2009

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