September 2, 2008

Government has to revive market

There are calls from industry experts for the government to take some positive action to revive the UK’s property market.

This is coming from The Royal Institution of Chartered Surveyors (RICS) who say that recent attempts from the government have been small and has had limited affect on the property market which is struggling to cope with the current financial climate.

With the sale of homes at the worst level for almost thirty years, the UK’s estate agents are only seeing on average around one house sale per week, in the last three months. Therefore, the government’s plans will need to be decisive.

The government can do many things, like help with mortgages and for first time buyers, but how the government is going to tackle these issues could be known very soon.

Source [Independent]