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August 2010 Rics Market Survey Released Today

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Check out the latest Market Survey from RICS (pdf file):


Great news for East Anglian bears as the charts show a negative 59% balance of surveyors reporting price falls over last 3 months, this is the most bearish figure for any region of the country, additionally not one surveyor reported a rise (only Northern Ireland matches in this aspect).

Similarly bearish is the fall in newly agreed sales and new buyer enquiries over the past month and the figure showing completed sales over the last 3 months, all well below the national average.

Looking forward, a negative 53% balance of surveyors expect price falls over the next 3 months, again one of the most bearish regionally (only East Mids is more so).

The only disappointing thing about the report is the lack of East Anglian surveyors willing to submit their market comments at the end of the report. When the market was buoyant earlier in the year they were quite happy to cautiously welcome it.

Methinks the silence now speaks volumes! ;)

The only one willing to say it how it is:

Tom Goodley MRICS, Strutt & Parker,

Norwich, Norfolk, 01603 617431 - There

appears to be a lot of over priced houses

on the market, and a shortage of buyers.

The basic economics of supply and

demand must prevail.

Read and enjoy!

Edited by luigi
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