THE DAILY TELEGRAPH: House prices dropped during the past three months and will continue to do so, surveyors said.
The latest housing survey from the Royal Institution of Chartered Surveyors found that 28 per cent more estate agents reported house prices falling to the lowest level since the beginning of the year.
Ian Perry, a RICS spokesman, said: “Buyer interest in purchasing property remains flat across much of the country and there is little sign of this changing any time soon. “Uncertainty over the economic outlook remains as important as the availability of mortgage finance in depressing demand. On the other hand, the appetite to rent is continuing to grow. And, with little new supply coming onto the lettings market, the cost of renting is increasing and will continue to do so.” » | Tuesday, June 14, 2011