–RICS: Net -36% Surveyors Saw UK House Prices Rise Sep
–RICS: Sep Sales to Stocks Ratio 24.2% Vs Aug’s 24.7%
LONDON (MNI) – The fall in UK house prices is becoming more
widespread, with the balance of surveyors reporting price declines
hitting its highest level since May 2009.
A net 36% of surveyors reported price declines in the September
survey from the Royal Institute of Chartered Surveyors, up from 32% in
August. While the average number of completed sales per surveyor held
steady, there was a rise in average numbers of houses on surveyors’
books, suggesting housing supply is rising faster than demand.
The RICS September survey found the sales-to-stocks ratio fell to
24.2% from 24.7% in August. The average number of properties on
surveyors’ books was up 1.9% on the month to 69.1, while average sales
per surveyor was steady at 16.7.
Recent housing market surveys, while mixed, have tended to
reinforce the view house price inflation is evaporating and deflation is
looming.
The Halifax survey found house price posted a record monthly fall
in September, of 3.6%.
“The fresh influx of property to the market combined with a lack of
buyers remains the key problem affecting the sector. First-time buyers
are in particularly short supply as the high deposits required by
lenders prevent them from taking their first steps on the property
ladder,” RICS spokesman Ian Perry said.
“Without sufficient demand property prices continue to slip back,”
he added.
–London newsroom 4420 7862 7491 email: drobinson@marketnews.com
[TOPICS: MABDS$,M$B$$$,MABDA$]
