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Recent bad weather caused decline in house sales

January 21st, 2011

News out states the number of property sales completed in the UK saw a fall in December 2010 due to the adverse weather conditions.

According to the most recent figures from the Royal Institution of Chartered Surveyors (Rics), estate agents in the UK reported a drop to a net balance of -15 per cent from the previous figure of -14 per cent.

It noted that two of the key features continuing to affect the market are the ongoing uncertainty about the economy and the lack of mortgage availability for those who are trying to get a foot on the property ladder.

However, there is some optimism that circumstances will improve.

“While lack of supply – and more importantly demand continues to impact heavily – surveyor sentiment does appear more positive for the coming months,” said Rics spokesman Jeremy Leaf.

Recently, Building magazine reported that the government is planning on creating a body that will regulate house building across all of the regions of the UK.

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