Dramatic drop in Rochdale house sales
Date published: 06 October 2008
House sales in Rochdale are the lowest for nearly 10 years.
Figures show that only 169 houses were sold in June this year across the town, compared to 321 in the month of August 2000.
Rochdale's MP Paul Rowen said: “These housing figure come as no surprise and show that the Credit Crunch is really affecting consumer confidence in Rochdale. I knew the market was bad, but not this bad. I have had a meeting with the Housing Federation and I have promised to do my best to raise some key issues in Parliament.
"Since getting the figures, I have met with the Chief Executive of Rochdale Council to discuss these problems. It is clear that we can only solve these problems by building more social housing and working with the Government to do this. There are also job implications here for estate agents because of the low levels of sales.
“Houses in Rochdale offer great value for money and I hope that market will stabilise. I know that the Council is looking to increase the amount of social houses it builds and I have called for them to work with the Government to make this a priority. It’s also important that our Council works with Housing Associations to look at increasing their stock. It is also clear that we may fail to hit Government targets for affordable housing as we cannot rely on private developers.”
Sallie Bridgen, North West regional manager of the National Housing Federation, said: "The desire to get a foot on the property ladder has not gone away, but with uncertainty over house prices and difficulties in obtaining mortgages it is much tougher than this time last year. As housing transactions tumble, more and more people are turning to housing associations for help. The credit crunch is increasing the need for more new social homes. It is time for the Government to be radical to deal with the changed market. If we get this right, housing associations could be in a position to lead the recovery in house building."
Paul Rowen has also been out and about talking to people affected by the credit crunch and rising prices. He visited the Coop in Littleborough last Friday afternoon to talk to shoppers.
Mr Rowen said: “It’s clear that people are really having to tighten their belts and shoppers in Littleborough told me about rising prices across the board. One pensioner told me about her weekly shop going up by £27 and that was just her and her husband. The affect on families must be huge and I hope that people can continue to afford to continue to support their local shopkeepers.”