12 Aug

Market shows signs of easing, says Rics

Market shows signs of easing, says Rics

The Royal Institution of Chartered Surveyors (Rics) has said that the housing market has showed some signs of easing.

Figures from the body for July show that while the balance of house prices and new buyer enquiries is still negative, the extent to which this is the case has fallen.

The majority of surveyors reporting a fall in prices over a rise has dropped from 86.9 per cent to 83.9 per cent, while the level of new instructions has seen the majority of those seeing a reduction over an increase dip from 35 per cent to 27 per cent.

Rics also recorded a three per cent rise in new instructions and commented that the market is now seeing more realistic pricing, prompting spokesman Ian Perry to suggest there are "signs that sales activity might pick up a little".

Another indication that the recent market decline may be slowing came with the Nationwide house price figures for July, which showed a 1.7 per cent drop in the month, compared with 1.9 per cent in June and 2.5 per cent in May.

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