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Housing market problems sees 32,000 estate agents lose their jobs

While they may be the bane of many people's lives when looking to sell or purchase a house, the estate agency industry will end 2008 on a record low with 32,000 jobs lost over the last few months. The crash in the UK housing market has not only had repercussions for home owners throughout the UK but estate agents as well. There is also concern that the problems in the sector will continue well into 2009 and possibly beyond with more jobs at risk.

Despite a number of highly visible attempts by the government to refloat the property market in the UK with the injection of substantial amount of money there has been little impact as yet. Aside from a small upturn in auction sales a couple of months ago there has been a distinct lack of positive news. Even the so-called value buyers have not yet appeared with many concerned that UK house prices still have significantly further to fall.

The situation has been made worse by the Christmas and New Year period which has historically been the quietest of past years. Many estate agents are seeing a massive reduction in enquiries let alone transactions and many will struggle to make it through 2009 and beyond.

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