Freeze on transactions will cut sales by 38% with wide-ranging knock-on effects for economy, warns leading agency
More than 520,000 UK home sales will be abandoned this year, after the government ordered a temporary freeze on the housing market last month due to the coronavirus outbreak, new research shows.
Property consultancy Knight Frank said the 38% drop in the number of house sales in 2020 would have a ripple effect across the property industry, hitting retailers, removal companies and even government coffers.
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