THERE IS A DECLINE IN THE HOUSING MARKET IN LONDON AND OTHER PARTS OF THE SOUTH EAST OF ENGLAND

  • There is a decline in the housing market in London as well as other parts of the South East of England, according to surveyors.

    The Royal Institution of Chartered Surveyors (Rics) made the following findings:

    • More than 1% of UK surveyors reported a rise rather than a fall in prices
    • Northern Ireland, the West Midlands and the South West of England recorded increases in July
    • The balance of UK surveyors reporting price rises in July was down from 7% in June
    • Prior to being sold, the most expensive homes may see cuts in the asking price
    • In the last two months, there has been a gap between the asking price and selling price for homes 

    Chief Economist at Rics, Simon Rubinsohn:

    "Sales activity in the housing market has been slipping in the recent month and the most worrying aspect of the latest survey is the suggestion that this could continue for some time to come."

    What do you think?

    Please tweet comments @suppsolutions.

    For more details, visit the BBC.

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