12
Aug
Market shows signs of easing, says Rics
The Royal Institution of Chartered Surveyors (Rics) has said that
the housing market has showed some signs of easing.
Figures from the body for July show that while the balance of house
prices and new buyer enquiries is still negative, the extent to
which this is the case has fallen.
The majority of surveyors reporting a fall in prices over a rise
has dropped from 86.9 per cent to 83.9 per cent, while the level of
new instructions has seen the majority of those seeing a reduction
over an increase dip from 35 per cent to 27 per cent.
Rics also recorded a three per cent rise in new instructions and
commented that the market is now seeing more realistic pricing,
prompting spokesman Ian Perry to suggest there are "signs that
sales activity might pick up a little".
Another indication that the recent market decline may be slowing
came with the Nationwide house price figures for July, which showed
a 1.7 per cent drop in the month, compared with 1.9 per cent in
June and 2.5 per cent in May.
