Depth of supply slump revealed
THE number of properties available for sale in the UK housing market has decreased by 38 per cent since the start of the recession, according to the National Association of Estate Agents.
Mark Hayward, President of the NAEA, says: “This shows the true extent of the drop in the levels of available housing since the economic downturn took hold. A combination of increased seller caution and a seizing up of activity within the house building sector has led to a significant reduction. While it’s important that house hunters have access to funding and mortgage finance, a more meaningful commitment to delivering higher volumes of new homes is required to get the market moving again.”