Why housing transactions remain below pre-crisis levels

Why housing transactions remain below pre-crisis levels

Before the global recession, house sales in the UK numbered around 1.6m a year. After the crisis, they hit a low of 860,000 a year in 2009, recovering to 1.2m in 2014. In its report ‘Missing movers – a long term decline in housing transactions?’ the Council of Mortgage Lenders (CML), now part of the UK Finance trade association, has sought to explain why transactions remain down by some 400,000 on pre-crisis levels.

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