Home » News » Housing Market » House sales in ‘structural decline’ says Barclays previous nextHousing MarketHouse sales in ‘structural decline’ says BarclaysHigh profile City investment analyst working for banks says sales numbers peaked in 1989.Nigel Lewis15th August 201701,395 Views A city analyst working for Barclays believes house sales are in ‘structural decline’ in the UK.The comments by Jon Bell (pictured, below) come in a note sent to City investors yesterday in which he says the number of homes sold in the UK peaked in 1989 and have been declining ever since.Reason for the decline, the equity analyst says, include the increased number of homes owned by buy-to-let landlords, who tend to buy and sell properties less often than home owners.Bell points out that government’s own figures highlight how private home ownership has barely changed since the early 1990s while the extra housing stock made available since then has been swallowed up by private landlords.Bell also says the higher cost of Stamp Duty, a lack of new public and private housing and the UK’s ageing population, who tend to move less often than younger families, is also depressing sales.Bell, who works at the high street bank’s investment banking arm in the City, also proffers some more surprising reasons for the UK’s declining number of house sales.He says the government Help to Buy scheme for new homes is helping younger buyers purchase larger homes, and that they then later move home less frequently.Also, says Bell, many people’s poor credit history is hampering many younger people get on the property ladder because they can’t get mortgages.Housing surveyHis comments reflect the recent English Housing Survey, which found that between 2015 and 2016 the number of private or social renters who aspire to buy their own home one day remained the same.Among private renters, 59% said they wanted to own one day, while 27% of social renters had the same aspiration. Some 25% of private renters hoped to buy their first home in the next two years, the survey showed. Jon Bell house sales Barclays English Housing Survey August 15, 2017Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021
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Robert “Bob” John Schaffner, 66, of Moores Hill passed away Sunday, August 23, 2020 at his residence with family by his side. Bob was born Saturday, March 13, 1954 in Cincinnati, Ohio, the son of the late Vivian (Orme) and Herbert Schaffner. He married Susan Adams on June 30, 1973 and she survives. Bob served his country in the U.S. Army. He worked for Kemira Water Solution Inc. as a truck driver.Bob is survived by his wife Susan; daughters Carie (Paul) Norris and Amy Schaffner; loving mother-in-law Joyce Adams, a.k.a. Mammoo; brothers David (Desi) Schaffner and Joe (Jenny) Schaffner; sisters Mary Schaffner, Barbara (Robert) Sizemore, Michelle (Dennis) Larkins, and Phyllis Smith; four grandchildren Kelsey Norris (Ryan) Fay, Brantley Norris, Nakia Scruggs, and Amyah Scruggs; and two great-grandchildren Mira Fay and Theo Fay. He was preceded in death by his parents Vivian and Herbert, siblings Timothy, Patricia (Gene) Stricker, and Kathy (James) Epperson.There are no services planned at this time. Memorials may be given in honor of Bob to the Bright Lions Club. Filter-DeVries-Moore Funeral Home entrusted with arrangements, Box 146, Dillsboro, IN 47018, (812) 432- 5480. Please reach out through our website at www.filterdevriesmoore.com to leave an online condolence message or a memory of Bob for the family.