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Wednesday, 30 November 2011
"Housing turnover hits lowest in 40 years!!!"
"Hometrack says 840,000 sales are expected this year – almost 50% lower than the figure for 2007. Its latest housing survey showed prices fell by 0.2% in November from the previous month, following another 0.2% tumble in October.
Prices are down by 2.3% year on year and have fallen every month since July 2010, apart from April this year when the market was flat with no change recorded.
Hometrack said prices were being propped up by people's reluctance to put their homes up for sale, creating a scarcity of supply."