Thursday, August 12, 2010
Music to my ears!!!
"More surveyors reported a fall rather than a rise in South East house prices as supply continues to outstrip demand and more properties come on to the market. This is according to the latest RICS UK Housing Market Survey. In July 15% more surveyors reported a fall rather than a rise in house prices, a steep fall of 30% from June, when 15% more surveyors were optimistic that prices would rise. Demand for property in the South East, measured by the net balance of new buyer enquiries, fell slightly for the second month in a row, from negative 22 to negative 24. Difficulty in securing mortgages and increased uncertainty about the prospects for the economy may have contributed to caution from potential homebuyers though the excess of supply over demand is central to the market."