Thursday, June 14, 2007
Market activity down
The number of new properties coming onto on the market increased at the fastest pace in the survey’s history.After falling for five consecutive months, buyer numbers stabilized in May. Confidence fell for the seventh consecutive month to the lowest level since August 2005 - well below the survey’s long run average. Capital Economics said that the RICS report signalled the early stages of a marked weakening in activity, if not yet prices.