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Housing drops 'slowing down'
21 August, 2008Recent research has found that the housing market is beginning to stabilise, it has been reported, as many factors connected to the buying process are now showing less symptoms of decline.
Recent research has found that the housing market is beginning to stabilise, it has been reported, as many factors connected to the buying process are now showing less symptoms of decline.
Factors such as the amount of time it is taking to make a sale, the number of viewings made before a sale is agreed, and the number of sales falling through are all now moving away from symbols of a deteriorating market, and becoming indicative of a market which is steadying out.
The news comes as the Royal Institution of Chartered Surveyors noted a rise in the number of houses moving to the rental market, suggesting that in fact supply may well dry up soon.
However, a steady market can offer vendors more power in the market, which could give banks more confidence in lending, freeing up the currently-stagnated market and ensuring a faster cashflow.
"The good news is sales are not getting any worse, which is encouraging," said Peter Bolton King, group chief executive of the National Association of Estate Agents.
"There are one or two green shoots, perhaps due to some lenders relaxing qualifications to get a mortgage."
The long, drawn-out sale of British Energy (BE) to EDF Energy has come to an end after the French energy firm bought BE for £12.5 billion, it has been reported.
Government hopes to have an EDF Energy-British Energy (BE) tie up within two weeks have been dubbed "optimistic" by the British nuclear company, according to a recent report.
Gordon Brown is facing the prospect of a major defeat over the government's reluctance to impose a windfall tax on energy companies, it has been reported.
The City of London has launched a campaign against Gordon Brown in order to convince him that introducing a windfall tax on energy companies should be avoided.
TaylorWimpey has reported phenomenally poor first half results for the year so far, recording a loss of £1.5 billion, it has been announced.