Estate Agents Sell Just One Home a Week on 100 Mortgages

House prices have dropped the lowest since records began 30 years ago according to The Survey by the Royal Institution of Chartered Surveyors (Rics). The already struggling homeowners will take this as a fresh blow if they were thinking of selling up to ease the financial burden from their necks.

The report by Rics showed astonishing data results with estate agents selling an average of 0.88 properties a week or an average of 11.4 properties in three months to the end of September. Considering that this time last year Estate agent average sales were at 5.25 properties a week.
London has been the hardest hit, with agents selling on average 0.63 properties a week or 8.3 properties sold on average over the same three months.

The Rics report showed that sellers put their properties up for rent in London as they were not able to sell at the price they needed.

Source: telegraph

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