The Land Registry are shedding staff

One sure sign that the property market is not just going through a short term blip is that even the Land Registry is having to lay off staff. . This is because the number of properties changing hands has fallen so markedly. Apparently about 1,250 staff in the various Land Registry offices around the country are being offered redundancy terms. The Land Registry employs 8,300 people, so it’s laying off a sixth of its workforce. The Land Registry have the best data possible on what is happening in the property market – prices and deals. So if they are judging that there will be no quick return to a vibrant market any time soon, that is depressing news.