UK market suffers in April |
13 2008 |
| The UK housing market continued to suffer in April, according to the latest figures from the Royal Institution of Chartered Surveyors (Rics). It is bad news for homeowners and suggests that now be a better time to rent rather than buy a property. Rics has revealed that 95.1 per cent of chartered surveyors reported a fall rather than a rise in house prices in April. That is up on the 79.4 per cent who reported the same trend in March and the ninth consecutive month that the figure has risen. Despite the negative figures, Rics is trying to put a brave face on things. "The scale of house price falls remains relatively small at this stage compared to past downturns," read a Rics statement. "The lack of new instructions to sell property continues to provide a crutch to the market. Large numbers of distress sales - either repossessions or sales from those attempting to avoid the repossession process - have not yet appeared in the market place," it continued.  |
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