More new house sales data
Just a brief entry to provide some new data re house sales. In the last month (before the momentous events now happening in macro financial and public disorder terms) the average number of properties sold per surveyor was just over 14, which is the lowest number for over 2 years.
A different survey, from the Council of Mortgage Lenders, found that over 800,000 mortgages were in negative equity during the first quarter of 2011 which is roughly half the number from the early 1990s. However, with interest rates incredibly low, this figure would be massively higher if interest rates were at historic norms, so trouble seems to be stored up for later.