In Property This Week - 14 May
Published on 14/05/2008
How serious is the current downturn?
Writing in The Sunday Times, the economist Davis Smith has very concisely summed-up what’s going on in the UK at present. It’s rare to find decent analysis so here is what an intelligent commentator has to say….
“Spring weather may have arrived, but cold winds continue to blow through the housing market. Mortgage brokers are finding there is no longer much for them to broker and are feeling the pinch. In fact, anybody connected with new homes is struggling – which means the builders themselves and their employees, the self employed tradesmen they use and those whose job it is to market housing developments to potential buyers. Estate agents are closing offices and shedding staff.