Depth of sup­ply slump re­vealed

Yorkshire Post - Property - - PROPERTY -

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.”

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