UK Landlord Forum / Life

Quote
Some 150 estate agents could be going to the wall each week in the UK as the credit crunch continues to bite the housing market.

Research from financial analysts Debtwire finds the number of estate agents has fallen from nearly 13,000 at the start 0f 2008 to about 12,000 at present.

This equates to the closure of some 150 branches a week, with the pace thought to be accelerating.

Furthermore, an average of four agents employed by each, job losses could run into the thousands.

"The irony is that there is no shortage of people who want to move house, but without mortgages they just can't do so," explained Peter Bolton King, chairman the National Association of Estate Agents (NAEA).

"Estate agents are having to close because there just isn't enough movement in the housing market and that is likely to have a much wider impact because a healthy housing market is essential for the health of the high street," he added.

Full story here

Did they make too little hay while the sun was shining??


V