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Brickor mortis’ sets in after house market dies

PUBLISHED: 16:19 03 November 2008 | UPDATED: 13:44 05 October 2010

A SEVERE case of brickor mortis’ is setting in across London’s East End because of the dead housing market, estate agents have warned. Two out of every three homes on sale in Tower Hamlets alone have been on the market for six months or more, with 34 per cent lingering since May, the second-worst London borough after Barnet’s 37 per cent

Victoria Huntley

A SEVERE case of 'brickor mortis' is setting in across London's East End because of the dead housing market, estate agents have warned.

Two out of every three homes on sale in Tower Hamlets alone have been on the market for six months or more, the property website Globrix claims.

Some 34 per cent of domestic properties up for sale have been lingering since May, the second-worst London borough after Barnet's 37 per cent.

Around 18 per cent of East End properties have been on the market since the beginning of the year-the highest number anywhere in London.

It is known as 'brickor mortis' to estate agents, the phenomenon of a dead property market with houses left unsold after months.

Official Land Registry figures show completed sales in the 12 months to July were down by 60 per cent.

In neighbouring Hackney, 26 per cent of properties have been on the market for the last six month and 11 per cent since the beginning of the year.

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