CONSUMERS One in five homes sell in a week

Almost one in five homes on the market are selling in less than a week. The shortage of homes for sale is now the most severe for two years, a survey by the Black Horse estate agency says.

The situation has not been helped by the fact that more than 60 per cent of buyers have nothing to sell, it found. The post-election "feel-good factor" was encouraging more and more people to enter the market, but many were adding to the difficulties by insisting on finding their new home before putting their own property up for sale.