House prices fall according to chartered surveyors
News Category: Industry News
Published: 16-Apr-2008
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New data published by the Royal Institution of Chartered Surveyors (Rics) has indicated that UK house prices continued to fall last month.
The figures, released yesterday (Tuesday, April 15th), revealed that in March 78.5 per cent more chartered surveyors reported a fall than a rise in house prices - exceeding the historical low of June 1990.
Commenting on the data, Jeremy Leaf, spokesman for Rics, observed that "sentiment is at a very low ebb", adding that this would continue due to the current turbulence in the economic climate.
He said: "The slowdown in prices is directly attributable to a lack of available finance which has hit demand. However, until new supply increases dramatically a significant crash remains unlikely.
"The next six months will be a crucial period for homeowners but would-be buyers with larger deposits may see this market as an opportunity to acquire property in areas to which they could not previously aspire as recently as the end of 2007."
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