BBC News: Surveyors expect property prices to fall

Surveyors are expecting house prices to fall in the coming months owing to more home sales and economic uncertainty. The rise in supply means more are expecting property values to fall than rise - a shift in sentiment from a similar poll a month ago. The survey, from the Royal Institution of Chartered Surveyors (Rics), said that the number of enquiries from new buyers dipped in July. A separate forecast by accountants PricewaterhouseCooopers has suggested that house prices might not reach the levels seen at the peak of the market in 2007 for another decade. The firm's head of macroeconomics John Hawksworth said "The possibility of a renewed fall in house prices over the next few years, particularly in real terms, cannot be ruled out as mortgage interest rates start to rise again."