The UK housing market has continued to weaken, with ever larger numbers of surveyors reporting house price falls, according to the Royal Institute of Chartered Surveyors (RICS).
RICS' latest survey of members found house price falls are now more widespread than at any time since 1978, providing further confirmation that the UK housing boom is over. The survey found 95.1% more surveyors observed house price falls than house price rises in April, with regions such as East Anglia and the North of England showing no price gains at all. The numbers are up from 79.4% in March as prospective buyers stay away from the market and the number of sales falls considerably. RICS expects a lack of supply to soften any decline in house prices, but says many repossessions and...
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