Housing transactions have hit a new low as the financial crisis continues to erode confidence in the housing market, according to data from the Royal Institute of Chartered Surveyors (RICS).
Optimism among surveyors increased slightly during October, but indicative figures suggest the housing market will continue at a slow pace for some time. RICS survey of members found the average number of transactions per surveyor in the past three months has fallen to 10.9, down from 11.5 in September and the lowest figure in over 30 years of records. Transactions in London were particularly badly hit, with surveyors in the capital dealing with an average of just six sales between August and September. House price falls may have slowed slightly, with 81.8% more surveyors reporting a ...
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