August House Sales Down
Published / Last Updated on 23/09/2009
August House Sales Down
Figures released by HM Revenue and Customs (HMRC) show that the number of houses sold in August fell from 87,000 in just to 83,000, a 5% fall.
This slow down comes from the combination of a major holiday month plus a general slowdown in lending applications.
In short, many commentators are suggesting a long, drawn out recession and this may have knock June and July’s more confident markets.
We expect the housing sector to stabilise at its current level of thereabouts until the New Year, with perhaps an even greater slowdown in mid-winter.
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