|
TSH News
Enquiries increase
Tue Dec 9 2008
House sales 'are still falling'
Sales have fallen by more than half in the past year
Property sales fell even further in November, according to the latest survey from the Royal Institution of Chartered Surveyors (Rics).
The number of sales per estate agency fell during the three months to November to 10.6, down from the 10.9 sales per agency reported a month ago.
Rics said this |
 |
| was the lowest level since its survey started in 1978.
Sales have slumped by more than half this year due to the credit crisis, driving down prices as a result.
"Many are starting to see the current market as an opportunity to purchase a previously unaffordable property despite the worsening economic picture," said Rics spokesman Jeremy Leaf.
"But, unless people feel relatively confident about their job prospects, they're unlikely to even try to obtain mortgage finance unless of course trading down or seeking to release capital."
"Vendors still have to accept the inevitable fact that house prices are falling and re-price their property to suit current market conditions," he added.
Interested buyers
Rics suggested there were some shafts of light in the gloom in its latest survey of the UK housing market.
The rise in interest reflects both the drop in asking prices and recent cuts in interest rates
Rics
Its members said interest among potential buyers had risen for the seventh month in a row and was now positive for the first time since October 2006.
Those chartered surveyors who had seen a rise in the number of buyers' enquiries now outstripped by 14% those who had seen enquiries fall.
"The rise in interest reflects both the drop in asking prices and recent cuts in interest rates," said Rics.
.
|
|
|
|
|
