http://www.dailymail.co.uk/news/arti...ions-soar.html
The number of homes sold has halved in a year, according to official figures issued yesterday.
Coming alongside evidence of the soaring number of repossessions, the news lays bare the extent of the meltdown in the housing market.
Separate figures, from the auction experts Essential Information Group, reveal that the number of repossessed properties coming up for sale in auction houses has rocketed nearly 300 per cent in three years.
Between January and June, 3,115 repossessed homes went under the hammer in Britain, compared with just 799 in the same period during 2005.
The scale of the increase is extraordinary, with the numbers soaring 66 per cent over the last year alone from just 1,873 in 2007.
Experts have been warning that repossessions will soar but this is the first concrete evidence.
Other figures, published yesterday by the National Association of Estate Agents, confirm the crisis facing anyone who needs to sell their home, particularly if they are in a rush.
Last month, estate agents sold an average of just six homes, which has more than halved from an average of 13 in the same month last year. One estate agent from the North East described the first half of this year as 'a complete disaster', adding: 'I can't see any light at the end of the tunnel.'
One from Devon said: 'Transactions are down around 60 per cent which has sent shivers down the spine.'
The number of homes sold has halved in a year, according to official figures issued yesterday.
Coming alongside evidence of the soaring number of repossessions, the news lays bare the extent of the meltdown in the housing market.
Separate figures, from the auction experts Essential Information Group, reveal that the number of repossessed properties coming up for sale in auction houses has rocketed nearly 300 per cent in three years.
Between January and June, 3,115 repossessed homes went under the hammer in Britain, compared with just 799 in the same period during 2005.
The scale of the increase is extraordinary, with the numbers soaring 66 per cent over the last year alone from just 1,873 in 2007.
Experts have been warning that repossessions will soar but this is the first concrete evidence.
Other figures, published yesterday by the National Association of Estate Agents, confirm the crisis facing anyone who needs to sell their home, particularly if they are in a rush.
Last month, estate agents sold an average of just six homes, which has more than halved from an average of 13 in the same month last year. One estate agent from the North East described the first half of this year as 'a complete disaster', adding: 'I can't see any light at the end of the tunnel.'
One from Devon said: 'Transactions are down around 60 per cent which has sent shivers down the spine.'
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