New figures show continued slowdown in property market

New figures released by the Royal Institute of Chartered Surveyors show that the slump in residential housing sales shows no sign of recovery.

Rics says that for the sixth month in a row there were fewer inquiries from potential buyers and fewer people putting their properties on the market. The institute adds that first-time buyers were having particular difficulty getting a foot on the housing ladder because of the size of deposits that are required of them along with the rationing of home loans from lenders.

Rics says that it expected house prices to continue falling in the first part of next year, although firms generally expected activity to increase over the next three months. The survey showed that house prices fell sharpest in Northern Ireland and the West Midlands with London, Scotland and the South West performing better than the national average.

https://www.theguardian.com/business/2010/dec/14/housing-market-slide-continues

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