Housing market 'hit hard' by winter weather

Posted: 17 Jan 2011 13:48:07 GMT

December sales figures in the housing market were the lowest since January 2003.

The housing market suffered a decrease in sales due to extreme weather in December, estate agents have said.

According to a report by the National Association of Estate Agents, the average branch managed to sell just four properties in the final month of 2010, the lowest figure since January 2003, when the mean amount sold was two.

In what is traditionally a slow month for business in the industry, the situation was worsened by conditions that covered much of the country in snow.

Mike Jones, president of the organisation, stated that the figures were "worse than usual", but remained positive that things would pick up in the near future.

"The new year has begun very strongly," he said. "Agents have reported a very busy couple of weeks that we are hopeful will continue."

Seasonal selling figures coincided with a 1.3 per cent drop in values, revealed by the Halifax house price index earlier this month.
 

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