In the three months to August, estate agents sold on average 7.5% of the homes on their books per month, the RICS reported this morning.
Although historically low, the proportion of sales to stock has remained relatively consistent throughout 2012.
During August itself, the RICS reported that the number of applicants dipped, although the number of new instructions was unchanged from the July figure.
The RICS also reported that house prices are edging lower everywhere but in London. The biggest falls were in Northern Ireland, the West Midlands, and Yorkshire and Humberside.
Looking ahead, chartered surveyors across the country predict transaction levels to pick up slightly as autumn approaches, but expect further house price falls.
The RICS report is in line with a new YouGov survey showing that home owners outside London are increasingly pessimistic about the value of their own properties. Over a quarter (28%) felt their home had fallen in value during August.
The Household Economic Activity Tracker (HEAT) found that 27% are expecting further price falls, compared with 23% who expect values to recover.
In London, however, only 8% of home owners thought their property had fallen in value since July, while 21% thought it had increased, and 44% believe its value will continue to rise next year.
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Comments
Does that count?
Rant, rant wake up!
Release Roderick, Release Brain, he’s not Brian I am, rant have you not seen the complete micky take at you by someone who has seen the classic "Life of Brian that pokes fun at life and people just like you who think they matter!??? He has completely stuffed you! Suggest you get a copy at the weekend and perhaps he will have his wish when you see yourself and hit the unsubscribe button!!
You can only play the man though when that poster hasn't made any meaningful comments. What I'm saying is that in your case Brian, you don't have any balls.
Oh rant I see what you have done there, that were cleva,, don't you have an unsubscibe tab like other junk mail?
The other unwritten rule is that if your posts only involve insults to another poster, then you are ceding the argument and admitting they are right...
Not true rant, plenty play you and not the ball, its thicker. McT carry on, very funny!
safe "haven" - n key seems to be playing up...
If you're going to frequent this site frequently Mr. McTavish, then there's an unwritten rule that posters play the ball, not the man.
London is being propped up by foreign investors looking for a safe have. Do you agree or disagree? If they no longer feel the need to find a safe have, London prices will fall - yes or no?
Here we go again. It's the "I can't see prices coming down where I am, so they can't be coming down anywhere else in the country..." comments.
How many times have we had this discussion on this site???
I'm in a West Mids town and am looking at 20% plus price drops so far since 2008. It has been established for at least a year on this site that the only ones reporting no price falls are all in the same corner of the country.
Seemingly people are posting without reading the article above???
[[[[[[what do you call an ageing, childless, renting, news junkie blogger that’s held his breath for the last 5 years? ]]]]]
Rant and Rave :-)
………………….my god its still taking a very long time for the crash to come and you HPC guys have to get all over the 'next' bit of news all the time to keep the faith alive……………@rant, you say the Eurozone getting better will bring the drop we are waiting for in values but im sure you’ve said that the Eurozone getting worse a while back would do the same? Nothing seems to be doing the job
Since 2007 HPC have spent millions of hours collectively analysing and researching the numerous bits of data, news and stats, most of it looks like its taken many hours, there are posters on HPC that give a huge amount of time to this and keep promising that there will be a nice, quick, painful crash followed by a nice happy time of increased volumes.
5 years on! – when is the day coming? Ireland didn’t do it, Greece, Italy, erm………..the other thing, the LTV / lender rates, all of it hasn’t managed to do so much as squeeze the prices by the goolies very slightly then sort of stop squeezing and leave it to the next bit of news or data.
Fun Boy Agent might be the man for this one but what do you call an ageing, childless, renting, news junkie blogger that’s held his breath for the last 5 years?
Jonnie
No crash, you same boyos have been saying it for years, you can't still believe what you type?
Yougove managed to tell Shelter that 11million people have been ripped off by letting Agents, as a result Alan Ward at RLA is claiming 1:4 UK citizens have been fleeced by Agents.
What YouGov, Shelter and Alan Ward failed to reailise is that with only 3.6million private rented tenancies in the UK it isn't possible to apply the survey sample to the entire population and think the result is true and accurate.
The RICS did not survey every agent did they? so again more typed words that make a sentance but not any sense.
The falls around the rest of the country would attract more media attention and register more on the national price indices if the London market went into reverse. Bizarrely, a breakthrough that restores confidence in the Eurozone could be the trigger for falls in the capital if foreigners stop searching for a safe haven.
What did the bubble teacher say to the bubble boy at the bubble school when he found him playing with a drawing pin?
You've let me down, you've let the school down, but more importantly you've let yourself down.
Post Olympics Bubble Burst.
or POBB for short.
Doom! Doom! I tells ya!
Probably because the rest of the UK massively susidises London's transport infrastructure.
ITS TRUE !