Tuesday 17 January 2012

Residential market continues to fall


As the banks’ mortgage lending criteria continue wreak havoc with the UK residential housing market Rightmove (www.rightmove.co.uk) reports the number of searches carried out on their website in for the first 10 days of 2012 reached record levels.

As po faced bankers continue to be allowed to make everyone else pay for their mistakes, setting lending criteria that has surely strangled the housing market into submission, new to market property listings plunged to a 10 year low.  London prices managed to go against the trend with a rise in values of just over 6%, but against the lowest level of activity in over three years.

As expectations are that the market will continue to be difficult during 2012, of those 44 million searches that were carried out, how many were done so in hope rather than expectation? 

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