This week saw the closure of two estate agents in Norwich. This is a sign of the increasing impact of the 'double dip' so widely predicted in housing transactions and prices.
Tops estate agents has closed for the second time in 2 years - having started up again after closing a large network of local offices of estate agents in Norwich and suburbs. Sapey & Co also closed their doors having been a late starter in the agency world, opening during the boom years of 2007.
We have got a long way to go to get back to anything like the conditions and price levels of 2007. The last big crash of 1988 took 14 years to get back to price levels of then. So expect things to get better in about 2021.
In the meantime there will be fewer estate agents in Norwich, less house sales and lower prices.
