Property sales plunge to lowest level in 30 years
Property sales are at their lowest level since 1978, as the latest figures, the Royal Society of Chartered Surveyors.
Estate agents in France have all reported sales for the property in November – more sales of 10 properties in the three months preceding the survey – which operates at least once a week ..
Most real estate agents have reported a large number of homes for sale on their books – and good news for buyers of 14% in the quarter as the prospective registry last year.
The sales were double that in early 2008, before the credit crisis has begun to lower prices because buyers are facing difficulties in increasing the mortgage.
"Many are beginning to see the current market as an opportunity to buy a property and unreachable despite the worsening economic picture, RICS spokesman Jeremy Leaf.
"If people feel relatively secure about their job prospects, is unlikely to even try to obtain mortgage financing unless current trade down or trying to free up capital. "
"The vendors have yet to accept the inevitable that housing prices have dropped their price and assets re-based on current market conditions. "
"Rising interest reflects lower asking prices and recent reductions in interest rates. "
The lowest level of sales during the past three months was in London, with only seven houses in the estate agent, followed by Wales and East Anglia countries.
With sales still collapse there was a continuing downward pressure on prices.
RICS found that 76.5% more of its members had seen prices fall in place locally, little better than in previous months, the negative balance of 81%.
Both the Nationwide and Halifax, two of the largest mortgage lenders in the UK also recently reported house price falls in November. Nationwide index showed prices up 0.4% and Halifax to 2.6%. The difference is due to different sampling methods.
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