The number of properties being sold throughout the UK has dropped to a 30-year low, according to reports from the estate agents sector. Estate agents are struggling in the midst of a very gloomy period.
According to Royal Institution of Chartered Surveyors figures, estate agencies sold on average less than one property per week during September, the worst figures since 1978.
Halifax estate agents earlier this year announced the closure of some 53 high street branches by the end of 2008. The Centre for Economics and Business Research have estimated that 15,000 estate agents will lose their jobs by the end of the year.
The president-elect of the National Association of Estate Agents, Chris Wood, reportedly commented: "The agents are carrying out the most sensible course of action and doing what any business would do in this sort of situation. They're cutting costs wherever they can. Some have to make staff redundant, others are employing part-timers and those that want to survive will have to up their game."
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Estate agents walking a fine line Fri, 24 Oct 2008
     Recommended linksFree property guidesProperty for sale Property for rent Estate agents London property prices down 20 per cent Increase in property enquiries reported |
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