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| Version 1 | Version 2 |
|---|---|
| Housing market hit by economic outlook, says Rics | Housing market hit by economic outlook, says Rics |
| (about 1 hour 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. |
| Price changes continue to show regional variations, another survey found. | |
| 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. More surveyors expect prices to fall in the coming months, than the number who expected prices to rise. | |
| "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. |
| House prices | |
| The government's own house price index shows a continuing variation in how property values are changing across the country. | |
| Across the UK as a whole, house prices were up 0.6% in October compared with the previous month, but down 0.4% on a year earlier, the Department for Communities and Local Government said. | |
| However, over the year to the end of October, prices fell by 0.2% in England, 0.5% in Wales, 1.5% in Scotland, and 12.1% in Northern Ireland. | |
| On a regional basis, London registered a rise in annual house prices of 3.9%, whereas prices dropped by 4.6% over the same period in the north-east of England. |