Tuesday, February 10, 2009
RICS report: no bounce in sight but buyers lining up
Jeremy Leaf, a spokesperson for RICS, said: "The latest survey provides further evidence of the eagerness of buyers to try and pick up bargains. This interest has yet to translate into sales but transactions may pick up in the coming months." The RICs survey indicated that house prices continued to fall in January, with the proportion of surveyors reporting a fall rather than a rise in house prices increasing from 73.9 per cent in December to 76.3 per cent last month. It blamed depressed prices on “the large stock of property on estate agents' books relative to the pool of able buyers”. The number of unsold properties per agent fell from 77.9 to 75.4 in January as owners chose to avoid selling for as long as possible or to withdraw properties from the market and let them instead.