Housing transactions hit new low

The Royal Institute of Chartered Surveyors' (RICS) most recent survey reveals 84.2% more chartered surveyors reported a fall in house prices compared to those reporting a rise, up from 81.8% in August. The gap between asking and selling prices has also widened despite a general reduction in asking prices, and conveyors are concerned that some vendors are failing to realise the need to cut their asking price. Stuart Swash, chartered surveyor at K. Stuart Swash, comments: “Realistic asking prices create interest and sales. Optimistic asking prices generate little interest.” The fall in pri...