Tuesday, April 13, 2010
Could a hung parliment stall the property market?
Pre-election jitters are beginning to affect homebuyers, according to estate agents, who reported a fall in sales last month and the slowest price growth since July 2009. In March 9 per cent of surveyors reported a rise rather than a fall in prices â€” down from 18 per cent in February and 30 per cent in January, according to the Royal Institution of Chartered Surveyors (RICS) housing survey published today. The industry body attributed the slowing price growth to buyers being reluctant to commit themselves before May 6 and a simultaneous rise in the number of homes coming on to the market. The percentage of surveyors reporting a rise in new inquiries fell from 7 per cent to zero on the previous month.