A property freeze has pushed out this year’s spring bounce, with new figures showing house sales have dived 40 per cent compared to five years ago.
Agents sold less than four homes a week in May, despite this traditionally being one of their better months, according to the latest RICS housing market survey.
Sellers are being forced to accept lower prices and properties are sitting on the shelf for longer, RICS said, with an average of 15.6 sales recorded by its member surveyor estate agents last month.
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