Firstrung: House prices declined for the third consecutive month

Newly agreed sales decline at fastest pace since April 1999 - Market conditions loosest since October 2005. Price expectations lowest level since Oct 1998. Sentiment in the housing market deteriorated further in November, with the balance of surveyors turning the most negative since May 2005. For the three months to November, 40.6% more surveyors reported a fall in prices than a rise, compared to 23.4% reporting a decline in October. Falls in the price balance are being driven by weakening property demand, although supply, whilst still contracting, is not falling as quickly as in recent months