UK housing market 'flat at present'

Posted: 09 Aug 2011 12:25:04 GMT

July saw house prices in the UK sliding further.

The housing market in the UK stayed relatively flat across July, new figures have shown.

According to the Royal Institute of Chartered Surveyors (Rics) UK Housing Market survey, house prices across the month fell further, with 22 per cent more chartered surveyors reporting a price dip rather than a rise over the four-week period.

It means the reading has remained in negative territory for more than one year, despite the figure improving slightly on the -26 net balance recorded in June.

Ian Perry, spokesman for Rics - which has around 100,000 members - said the market stalled in July, with sales levels remaining weak.

"While the holiday season appears to have had some impact on the market, the continual problem of inaccessible mortgage finance is still preventing first time buyers from accessing the market," he added.

In addition, just 13 per cent more surveyors expected a price rise rather than a fall over the next three months.
 

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