THE DAILY TELEGRAPH: House prices fell at their fastest pace for six months in April as a recent rebound in the housing market "ran out of steam" following the ending of a stamp duty concession for first-time buyers, the Royal Institution of Chartered Surveyors said.
The number of newly agreed sales has weakened, with a balance of 6pc of chartered surveyors across the UK reporting decreases rather than increases in sales in April, the first time transaction levels have entered negative territory since last September.
Some 19pc more surveyors reported house price falls rather than rises and a balance of 17pc believe that prices are set to drop further, the Royal Institution of Chartered Surveyors (Rics) said.
London, which has had strong demand from overseas buyers, was the only region to report a general rise in prices, while the West Midlands and Wales experienced the worst price deteriorations, the study said.
The situation for Scotland remained largely unchanged, while Northern Ireland continued to see a deterioration. Read on and comment » | Tuesday, May 08, 2012