15
Jul
RICS survey shows small house price improvement in June
The latest Royal Institution of Chartered Surveyors (RICS) housing
market report has found that the property price balance improved
slightly in June, but remained depressed.
According to its survey, 88 per cent more chartered surveyors
reported a fall than a rise in house prices, which is down from
92.2 per cent in April.
The average number of transactions per surveyor is now at its
lowest level since the survey began, standing at 15.3 for the last
three months. RICS suggested that this is down to the inability of
borrowers to secure mortgage finance.
It also noted that the house price picture is regional, with
surveyors in the west Midlands unanimous that house prices are
falling.
Striking a positive note, RICS spokesperson Jeremy Leaf said: "With
demand so low, would-be buyers are negotiating from a position of
strength. Even in a weak market there are always opportunities for
investors and buyers to profit and some are starting to circle for
bargains."
Last week, the National Association of Estate Agents adopted a
similar position, arguing that many buyers are in a strong position
because of both falling demand and house prices.
