The latest prediction from the Council of Mortgage Lenders (CML) is that home ownership will continue to drop due to a combination of repossession, low housing supply and credit problems for first-time buyers.
Although this is likely to boost property prices, it means there are few people who can afford to buy meaning a fast house sale is out of the question for many. To help the situation, the CML has asked HM Government to ease the flow of housing supply and encourage more lending in the market place. Whether the Government have the funds or the budget space to do anything remains to be seen. More on the CML research tomorrow.
Tags: fast house sale, quick house sale, repossession, Sell And Rent Back, Sell My House