Tuesday, May 12, 2009
RICS report (misleading headline)
The latest property market survey from the Royal Institution of Chartered Surveyors (RICS) showed fewer estate agents are now reporting falling prices. It said 59.9% more estate agents said prices were falling rather than rising in April compared to the previous month - the highest figures since January 2008. In March, it was at 72.1% The number of new buyer enquiries also increased, climbing for the sixth month in a row to its highest level in almost a decade. It has translated into a rise in sales with the number of properties that estate agents are selling over three months edging up from 9.7 in March to 10.6 in April. Jeremy Leaf, an RICS spokesperson, said: "There are tentative signs that the market is starting to pick up."