What Government Public Sector cuts will mean for House Prices

The Governments cuts in the public sector are likely to have a severe knock on effect to the housing market.

With an estimated 490,000 jobs going over the next four years (around one in ten jobs) that means that some towns will have a large number of public sector employees out of work leading to some falling behind with their mortgage repayments and repossession.

In towns where a large portion of the population is unemployed already this is likely to lead to a drop in buyer demand which in turn will push house prices down further. 

The Government is hoping that the private sector will somehow step in and provide jobs for those public sector employees made redundant, but in those towns with high unemployment to start with this is going to be unlikely.

This is another case Methinks, of the Government being damned if you do and damned if you don’t!

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