Residential sales revert to "sluggish"
An article from the BBC reports that house sales remain "sluggish" with a total of just 100,300 properties sold in the UK in October, a 16% fall on the same month a year earlier. This will go some way, combined with the winding down of ECO, to explain why the volume of RdSAP EPCs issued has failed to reach 100,000 a month, down 40% since the spring.
Commentators blame a lack of houses being put on the market rather than any lack of demand which would explain why, despite sluggish sales, house price growth remains "robust" at 5.2%.
There are pockets of good news with Birmingham identified as a hot spot whilst the central London market is "cooling" .
To Elmhurst Energy and many of our Members this will not come as a great surprise as EPC volumes have been lower than expected since the summer. More optimistically, in a news item earlier this week we announced that new house building has just a achieved its 200,000 annual target which should create a domino effect as the buyers move up the chain and need to sell the current homes.
For more information please see the BBC website http://www.bbc.co.uk/news/business-38063453