Wednesday, August 11, 2010
More bear food – every little helps.
"THERE was further proof that the property market is cooling down yesterday, after government figures showed house prices were flat on the month in June... That cut the annual rate of increase to 9.9 per cent, compared to 10.6 per cent in May... The downbeat numbers chimed with pessimistic data from the Royal Institute of Chartered Surveyors (RICS), which yesterday reported the first fall in house prices for a year. RICS said the balance of surveyors reporting a rise in house prices retreated sharply to -8 per cent in July, compared to +8 per cent in June and +21 per cent in May ".... with 28 per cent more surveyors expecting prices to fall over to fall over the coming months,â€ RICS said".