Barratt, iconic builder of shoe box houses, reports more bad news from the UK property market. Barratt has a huge stock of unsold houses. Many buyers who have already paid deposits are dropping out as they struggle to raise mortgage finance. The bad news from Barratt comes just days after Redrow, another large house builder, announced thousands of redundancies. This comes on top of dire predictions about the number of estate agencies that will be forced to close. Only yesterday government minister Caroline Flint managed to have her briefing notes photographed by a long range photographer. See photo above right. The notes revealed the government's own predictions on the housing market. These were for price falls of 10% or more.
Whilst it's doom and gloom in the house building and estate agency market, the market for property management could hardly be better. As first time buyers, and many others on the margins of the market, struggle to raise finance the market for rental property is booming.
No comments:
Post a Comment