lettings appletons on 13 Sep 2007 12:18 pm
House prices fall!
According to a new study published today by the Royal Institution of Chartered Surveyors, the house prices fell last month for the first time in more than 2.5 years as the recent rate rises have cooled down people’s appetite for property.
House price growth turned negative since October 2005 said RICS.
The demand for property is continuing to weaken as rising interest rates further hit affordability levels, the report added. Overall 1.8 per cent more chartered surveyors saw a fall in prices during August than those who saw a rise, down from 10.8 per cent more who reported a rise in July.
