RICS Housing Market survey released – prices are going DOWN
Posted by markharrison on November 13, 2007
The Royal Institute of Chartered Surveyors have released their October survey of the UK housing market.
Like August and September, October saw an overall decline in house prices. (And a higher proportion of surveyors reported declines in October than the previous months.)
However, new instructions to estate agents are still falling. What we don’t know, because the RICS survey doesn’t cover this, is whether the gap in estate agency instructions is because people just aren’t selling, or because more people are bypassing estate agents completely. Certainly, the investors I teach are reporting that they are getting rather more enquiries about selling directly, and “pre-repossession” deals are on the up and up.
You can read the full report at their website: RICS UK Housing Market Survey October 2007