According to recent reports, as many as 15,000 estate agents could lose their jobs over the next 18 month period. The housing market downturn, with house prices falling steadily in many areas of the UK, means that the demand for estate agents simply wasn’t what it was in a booming property market .
It appears that both housebuilders and estate agent companies are facing tougher times, as a knock on from financial services and credit supply problems. With rates on mortgage deals being steadily increased by lenders, many first-time buyers simply cannot find a mortgage loan and cannot buy a home, meaning they do not need estate agent services .
With negative equity creeping back into the property market, fewer and fewer houses are being put on sale, as buyers to not wish to sell at a loss or even without making the soaring capital gains associated with the property boom. With market conditions not looking like improving any time soon, estate agents and their parent companies could be in for a sustained rough ride.
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Estate Agents could be in for a rough time Fri, 13 Jun 2008
     Recommended linksEstate Agents guide to buying propertyEstate Agents guide to selling property Estate agents about conveyancing Property for sale Spring 2008 is going to be tough Empty house numbers down in England |
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