House prices 'more affordable' but buyers strike continues – Telegraph Blogs
Fear has replaced greed as the dominant sentiment in the housing market, now lower prices and improved affordability are proving insufficient to tempt buyers back.
You know that things are bad when even estate agents struggle to put a positive spin on events. For example, the Royal Institute of Chartered Surveyors (RICS) admits that “the hoped-for spring bounce in the housing market failed to occur, as fears over the economy and lack of mortgage finance continued to depress activity levels”.
More than a quarter of RICS members reported that house prices are still falling and many manage to shift just one property per week. A similar view emerged from a more scientific survey of Land Registry data, and the Halifax and Nationwide house prices indices by LSL Property Services.
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