House price fall slows in June
The Royal Institution of Chartered Surveyors (RICS) said on Tuesday that houses prices fell at a slower rate in June. The RICS said its house price balance, which shows the balance of property surveyors reporting house price increases and decreases, was down from -92.2 in May to -88.0 in June.
House prices fall again in FebruaryThe number of people moving house also dropped to record lows with only 15.3 transactions per surveyor taking place in the three months to the end of June, the lowest levels since records began in 1978.
The sales-to-stock ration fell to a 12 and a half year low.
The ongoing credit crunch has lead to a reduction in the number of mortgages being approved by banks, which in turn has hit the value of houses.
Housebuilders have also suffered the effects of the downturn with many being forced to cut hundreds of jobs.
- 1 RBS gets Chinese approval for Suzhou stake
- 2 June retail sales fall less than expected
- 3 Rage in Kashmir meets Indias brute force
- 4 Trade-weighted pound hits weakest in 12 years
- 5 Oil tumbles below $109 as Gustav concerns recede
- 6 Bank holds rates but cuts seen in 2009
- 7 Murray cheered by parade of champions
- 1 Local private investors could miss an upturn
- 2 BoE expected to hold interest rates steady at 5 pct
- 3 Markets see ECB rates on hold through first half of yr
- 4 Fears of slowdown could veer China into trouble
- 5 BP Russian partners say row solved
- 6 Investors lift stocks, keep exposure thin
- 7 Branson eyes Gatwick airport
|
- 1 House prices fall in August
- 2 More than 80 pct of families cut back spending
- 3 Take-home pay falls in Aug as economy slows
- 4 Brown cuts stamp duty at start of fightback
- 5 Home purchase tax threshold raised for one year
- 6 Brown unveils housing market support plan
- 7 Mortgage approvals fall again in July
|
|
