Sales market slowdown

Housing associations are warning of significant slowdowns of private and shared ownership sales.

Nationally the number of unsold housing association homes has soared to more than 7,000.

Notting Hill Genesis has indicated that it has a combined total of 400 unsold homes and is exploring the potential for converting the shared ownership homes into rental properties.

A number of other RPs are also indicating a slowdown in sales with consequences being an impact on surpluses which are used to reinvest in further developments.

It is stated that the sales market is currently being hit by cautious buyers delaying purchases in the build-up to Brexit, over fears that a no-deal exit from the EU would trigger an economic crash.