Surveyors say house prices continue to fall

RICS monthly housing market survey, which asks surveyors to report whether they saw prices rise or fall, found 14.6% more surveyors noticed a fall than a rise. This compares with just 3.3% more reporting a fall in prices during August and is the fastest rate of decline for two years. However, RICS says demand has fallen but supply still remains very constrained and market conditions have tightened as a result. New buyer enquiries fell for the tenth consecutive month and are deteriorating at the fastest pace since March 2003. RICS says this is largely down to several interest rate rises ...