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.

Posted by little professor @ 10:23 PM (850 views)
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4 thoughts on “RICS report out today

  • Why haven’t the normal cheerleaders Judy Heywood or Anne Ashworth given us this one?

    Good news gals gone quiet … ?

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  • 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?

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  • 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.

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  • 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.

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