The surge of house sales in the first few months of the year has slowed following the end of the stamp duty holiday for first-time buyers, research has found.
According to the Royal Institution of Chartered Surveyors (RICS), the number of newly agreed property sales has weakened and the housing market has ‘run out of steam.’
A balance of 6 per cent of chartered surveyors across Britain reported decreases rather than increases in sales in April - this is the first time transaction levels have entered negative figures since last September.
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