• From The BBC:

    The slump in the UK property market continued in August, with some estate agents selling fewer than one home per week in the past three months.
    The Royal Institution of Chartered Surveyors (Rics) said sales were at their lowest level since its monthly survey started in 1978.
    It said the fall in prices slowed, for the fourth month in a row, but they were still much lower than a year ago.
    Rics said the continued shortage of mortgage funds was “stifling” buyers.
    Mortgage famine
    “A lack of mortgage liquidity is the key issue which is keeping the housing market from showing any real sign of recovery,” said Rics spokesperson Jeremy Leaf.

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    Robert Peston interviews Graham Beale of Nationwide on house prices
    “While money is scarce, many will continue to be denied the next step on the property ladder.
    “The Government’s stamp duty policy will not be enough kick start transactions,” he warned.
    Meanwhile, the head of the Nationw…

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    Posted by Jon @ 10:40 pm

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