Wednesday, 16 February 2011

Conveyancing news: UK property 'still at risk of price swings'

Conveyancing news: UK property 'still at risk of price swings'

Britain's property market remains "vulnerable to sharp swings in prices" as a result of a mortgage finance shortage and a lack of new homes, PricedOut has said, which may be of concern to the conveyancing sector.

Matt Griffith, spokesman for the company, said that the housing market had behaved like a "rollercoaster" in recent years and warned that the uncertainty could continue.

"This volatility is underpinned by its two most important factors – a very unhealthy record of house building and a mortgage industry that has specialised in excesses, both during the boom and during the credit crunch," he added.

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