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| Housing market hit by economic outlook, says Rics | |
| (about 9 hours later) | |
| A growing proportion of surveyors believe that economic uncertainty is holding back housing market activity. | A growing proportion of surveyors believe that economic uncertainty is holding back housing market activity. |
| This was considered to be a bigger reason than the availability of mortgages and worries about house price falls, the Royal Institution of Chartered Surveyors (Rics) said. | This was considered to be a bigger reason than the availability of mortgages and worries about house price falls, the Royal Institution of Chartered Surveyors (Rics) said. |
| However, the latest Rics survey shows a slight rise in buyer demand and sales in November. | However, the latest Rics survey shows a slight rise in buyer demand and sales in November. |
| More surveyors expect prices to fall in the coming months, than rise. | More surveyors expect prices to fall in the coming months, than rise. |
| Subdued | Subdued |
| New buyer enquiries "increased modestly" for a third consecutive month, the Rics survey showed. | New buyer enquiries "increased modestly" for a third consecutive month, the Rics survey showed. |
| The average number of sales per surveyor branch climbed to 15.4 in the three months to the end of November, compared with 15 a month earlier. This was the highest level since last September. | The average number of sales per surveyor branch climbed to 15.4 in the three months to the end of November, compared with 15 a month earlier. This was the highest level since last September. |
| Slightly more surveyors expected sales to increase in the coming months than the number who expected sales to fall. | Slightly more surveyors expected sales to increase in the coming months than the number who expected sales to fall. |
| However, these slight rises were coming after a sustained period of subdued activity. | However, these slight rises were coming after a sustained period of subdued activity. |
| "A meaningful recovery still seems some way off," said Alan Collett, Rics' housing spokesman. | "A meaningful recovery still seems some way off," said Alan Collett, Rics' housing spokesman. |