The UK economy proceeds to slow down, and House Sales UK continue to get more and more difficult, and property prices are continuing to fall. Even though property prices are falling more slowly now than they were falling earlier this year, they’re still causing grave concerns for property Building Companies, and indeed for Commercial Property Developers as well.
Due to this, the House Builders Association, the biggest trade body representing the UK industry, has told the government that considerable new funds are required in order to stop a potential meltdown in large parts of the industry. They show that such a tragedy would have possibly catastrophic and long term effects on the property Sales UK market, and this would in turn spread into and significantly damage the wider economy
The House Builders Association, known as HBA wrote to the Chancellor of the Exchequer, arguing that the current crisis had come about as a result of a severe shortage in the availability of mortgages. The HBA, which is a division of the National Federation of Builders, went on to state that this lack of mortgage funds was dragging the whole UK economy towards recession.
The HBA also show that the Council of Mortgage Lenders has already estimated that net lending during the current year will be about
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