Monday 23 June 2008

1m homes for sale

A report from the property website Rightmove shows a record 1,000,000 homes are currently for sale in England and Wales. The same report also shows that the average house price has dropped by £3,000 between May 11 and June 14 - a drop of 1.2%.

The report's figures are seen as a sign of panic selling to stave off massive losses; people selling and hoping to invest the cash for now and buy cheaper in the future and people selling to take advantage of cut priced new properties.

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