13-02-2008
Further house price losses reported
News by Adfero for Simply Business - independent providers of public liability insurance, business finance, landlord insurance, buy-to-let mortgages & commercial mortgages.
The Royal Institution of Chartered Surveyors (RICS) has reported a further fall in house prices.
Data released as part of the RICS house price balance shows that, over the course of January 2008, those surveyors reporting a fall in house prices increased by 54.7 per cent, compared with 49.1 per cent in December 2007.
"A lack of demand and confidence in the housing market is clearly behind the recent price slowdown," said Jeremy Leaf, a representative from RICS.
"Agents are finding it difficult to market properties to an audience which has decided to watch the current economic theatre from the wings."
This latest data shows that, by their measurements, house prices have fallen for six consecutive months.
However, in contrast with the rest of the UK, house prices in Scotland are continuing to rise.