Tuesday, September 9, 2008
More pwnage from RICS
The slump in the UK property market continued in August, with some estate agents selling fewer than one home per week in the past three months. That meant that sales were running at levels 47% lower than in August last year. The Royal Institution of Chartered Surveyors (Rics) said sales were at their lowest level since its monthly survey started in 1978. The balance of surveyors saying prices fell exceeded those reporting gains by 81 percentage points, compared to a downwardly revised 83 percentage points in July. RICS called on the Government to take more action to restore the confidence in the housing market.