RICS Sees Reduced Drop in House Prices

A shallower drop in house prices last month have been reported by figures released by the Royal Institution of Chartered Surveyors.

The only region where surveyors reported more higher prices than lower prices was in London.  Ian Perry, RICS spokesperson, said; ‘The low level of buyer interest in many parts of the UK continues to impact on the market, resulting in some downward pressure on prices.’

‘With the prospect of forthcoming interest rate rises and continued shortage of mortgage funding, it seems that overall recovery for the national housing market is still some way off.’