Chartered surveyors have reported a collapse in housing transactions, with the average number of sales per surveyor falling from 18.5 to 17.4 over the past three months.
The figure marks the lowest number of transactions over a three month period since 1978, when the Royal Institution of Chartered Surveyors (RICS) began its survey of the housing market. RICS also found the balance of surveyors reporting new buyer enquiries remains in negative territory. An estimated 51% more surveyors reported a fall in buyer enquiries during the three months leading up to June 2008. The balance of surveyors reporting house price falls decreased slightly in May, with 92.9% more surveyors reporting a fall than a rise in house prices, marking a decrease from 94.7% in Apri...
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