10
Nov
Prices of houses for sale in UK fell in October, says report
More surveyors reported a drop in the cost of houses for sale in
the UK in October 2010, compared with the previous month, a report
has revealed.
The Royal Institute of Chartered Surveyors' (Rics) UK Housing
Market Survey released yesterday (November 9th 2010) found that 49
per cent more surveyors reported a drop in house prices rather a
rise in October.
In September, this figure was 36 per cent, indicating an increase
in the number of houses that dropped in costs over the month.
Findings showed that houses for sale in the East Midlands and East
Anglia declined the most in price, which is likely to come as good
news to homebuyers looking to purchase properties in those
areas.
Jeremy Leaf, a spokesman for Rics, said: "Agents may be cautious
about what this could mean for house prices in the short term, but
dramatic falls are likely to be limited by a gradual drying up of
stock coming to the market."
Over the month, it was also found that the number of properties on
surveyors' books also fell from an average of 69.1 to 67.2.
The previous UK Housing Market Survey revealed that 41 per cent
more surveyors predicted property prices to fall rather than
increase.