The market is for turning
Article Abstract:
House sales in Newbury, England were 30% higher in January 1993 than during the same month in 1992 and monthly polls of estate agents have shown similar increases in business across the country. The increased activity has not had any effect on prices, and they are in fact slightly down on the year. Those selling realise that they must accept lower offers than they would ideally like and those buying are realising prices have fallen as far as they are likely to so they may as well get the house they want. Sellers are generally those having to move, divorce, death and repossession being the main reasons why properties are on the market.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1993
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Light at the end of the home-loan tunnel
Article Abstract:
The UK government set up a new scheme to help debt-ridden property owners in Feb 1992. The scheme is between the government and lenders and aims to rescue 80,000 owners from repossession at a cost of 1 billion pounds sterling. About 200,000 owners are over 6 months in arrears with mortgage payments. The government is allowing housing associations to borrow to buy properties from debtors and charge them rent. The Abbey National has launched a 60 million pounds sterling programme to transfer up to 1,000 home owners to rents. The National Federation of Housing Associations believes the scheme is insufficient.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1992
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