» Estate agents selling only one property per month

Figures reveal all time low for home sales

Article Published: 9th September 2008

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Estate agents around the UK have seen the number of transactions shrink with some opening up shop to sell just one a week.

A spokesperson for The Royal Institution of Chartered Surveyors (RICS) said that on average, estate agents made 12.7 sales in three months to August, the lowest recorded sales figures since the institute began tracking the sales figures in 1978.

The dearth in first time buyers able to step on to the property ladder and the confusion over the stamp duty “holiday” have added to the problems facing estate agents.

A spokesperson from the RICS said that “A lack of mortgage liquidity is the key issue which is keeping the housing market from showing any real sign of recovery”.

The Chancellor is considering a number of measures to help kick start the property market and is said to be considering an extension of the Bank of England’s Special Liquidity Scheme.

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