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UK Property market is still stagnant, surveyors say
BBC – Houses are taking longer to sell because of the stagnation of the property market, surveyors say. Estate agent members of the Royal Institution of Chartered Surveyors (Rics) sold only 23% of the homes on their books in the three months to May. Back in the same period of 2007, they had sold 41% of their homes for sale. Rics said property sales were continuing to be depressed by the reluctance of banks to lend to many potential home buyers. Read Article
Tags: debt wealth, Europe, financial system