Rocky road ahead warns agent

Yorkshire Post - Property - - PROPERTY -

Re­al­is­tic es­tate agents are putting the cham­pagne back on ice, ac­cord­ing to North York­shire es­tate agent Peter Illing­worth.

He says: “Many peo­ple thought that a buoy­ant prop­erty mar­ket had re­turned. In many places prices had re­gained some losses from 2007 lev­els and there was strong de­mand. But that has slack­ened off; mort­gage lend­ing is at a six­month low; harsh eco­nomic mea­sures are ahead and, de­spite low in­ter­est rates and help­ful noises from the IMF that the Bri­tish econ­omy is look­ing bet­ter, few are de­ceived into think­ing that the next 12 months or so won’t be a chal­lenge for most of us.”

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