House price declines are slowing says RICS

The proportion of RICS members surveyed who reported more prices falling than rising dropped to 37% from 46% in November. December also marked the first month since March last year in which the number of completed sales did not fall on the previous month. RICS suggests these figures indicate the housing market is stabilising after a period of price and market activity falls. Still, with sales volumes 30% down on the same month one year earlier, the Institute does not expect considerable improvements. For example, levels of unsold properties on surveyors’ books continues to rise,...