Responding to the Land Registry House Price Index released yesterday, which reveals house prices in the North of England have been most affected by the recession, TUC General Secretary Brendan Barber said:
“The Land Registry House Price Index shows that continued problems with banks giving their customers credit and concerns about job losses are having a real impact on the housing market in the UK.
“Last year, around 60,000 homes were being sold every month. Now the figure has fallen to about 40,000.
“The drop in house prices and sales is being felt most keenly in the North of England - particularly in the North West - where the recession is also biting on employment.
“The Government needs to keep putting pressure on banks to lend their customers money to keep the housing market and the wider economy moving.
“We also want to see the current fiscal stimulus maintained to move the UK out of recession as soon as possible.”
