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House Price UK
« on: August 10, 2010, 11:03:14 am »
House prices are starting to fall, the latest survey by the Royal Institution of Chartered Surveyors (Rics) has said.

It is the first time since July last year that its monthly survey has detected a downturn in prices.

Rics said this was because more homes were being put up for sale, while enquiries from potential new buyers had fallen for the second month in a row.

Buyers are still finding it hard to get a mortgage, while fear of unemployment is putting off others, Rics added.

"The fall in the Rics house price measure is broadly consistent with most other recent data that has been released," said Rics spokesman Ian Perry. - BBC UK

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