Property sales at weakest level in four years, RICS survey shows | Business | guardian.co.uk

Property sales at weakest level in four years, RICS survey shows | Business | guardian.co.uk
The weakest level of property sales in four years is pushing down house prices in all regions of the UK outside London, says the body representing estate agents.
The monthly snapshot of the property market from the Royal Institution of Chartered Surveyors found that home transactions in July dropped for a fourth month and the balance of surveyors reporting falling prices was at its highest level for a year.
RICS said its members expected prices to continue edging downwards over the coming months even though they are hopeful that the number of sales will increase in the second half of 2012.
Asked about the trend in prices over the past month, a balance of -24 percentage points of agents said they were falling. The figure in June was -22 points.