The housing market across the UK is in a pre-election ‘squeeze’ with several indicators used by agents suggesting a significant slump in transactions.
Research by Hamptons International - using data from Countrywide, the agency group selling one in 10 of all UK homes - says across Britain there are 18.1 per cent fewer homes on sale today than a year ago. Only London has more, thanks to a collapse in sales of expensive homes ahead of a possible mansion tax. Other regions have seen the stock of homes on sale plummet by up to 25 per cent.
Hamptons also says that homes are taking longer to sell. Nationally, it now takes 7.3 weeks for a sale to be agreed - that’s an average two days longer than a year ago. Again there are major regional differences, because in London and north east England it takes a full 10 days longer for a sale to happen than in spring 2014.
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