Monday, August 11, 2008
RICS report out today
Property market grinds to a halt amid mortgage drought
The housing market ground to a virtual standstill last month as the drought in the mortgage market helped to drive down the number of homes changing hands to levels not seen for four decades, a key survey shows today. In the latest symptom of dire housing market conditions, the average number of property sales handled by surveyors across the country tumbled to fewer than five a month, according to the Royal Institution of Chartered Surveyors. In a rare dose of more positive news, the RICS survey shows that the proportion of surveyors reporting falling house prices was lower last month, for a third month in a row. Some 83.9 per cent more surveyors still said that prices had fallen in July than said they had increased, compared to 94.7% in April.
4 thoughts on “RICS report out today”
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paul says:
Why haven’t the normal cheerleaders Judy Heywood or Anne Ashworth given us this one?
Good news gals gone quiet … ?
Eternal Sceptic says:
The anticipated dead cat bounce is more reminiscent of a dead parrot.
I detest being pedantic- but if nothing is moving, how can surveyors say the the rate of decline in house prices is slowing. Are they confusing prices with transactions?
tyrellcorporation says:
Cheap green Minis anyone?
All they need the hair-gel encrusted headrests replacing and the fast food scraped out of the foot-wells.
enuii says:
Overheard this conversation at work today; Trumped up Scouse Project Manager on phone to estate agent:-
What! They offered how much less?
Dramatic pause as Estate Agent replies.
Thats more than I earn in a year! (He’s on well over 50K)
I stay silent and think to myself, serves you right you greedy little unshaven scruffy chancer.