Fall in house prices slows in May, outlook darkens - RICS

homelessskilledworker

http://uk.news.yahoo.com/fall-house-prices-slows-may-outlook-darkens-rics-064509985--business.html


LONDON (Reuters) - British house prices fell at a slower pace in May, although outlook worsened as the euro zone crisis intensified and sales took a temporary hit from the expiry of a tax holiday, a survey showed on Tuesday.

Generali

http://www.rics.org/site/scripts/press_article.aspx?categoryID=509&pressReleaseID=840

House sales per surveyor across the UK are almost forty percent lower than five years ago at the peak of the boom, says the latest RICS UK Housing Market survey (11 June 2012).
During May, the average number of completed sales per surveyor* was 15.6. This represents almost a 40 percent drop from May 2007’s figure of 25.4 and goes some way to illustrating the extent to which market activity has fallen in recent years.

http://www.businessweek.com/news/2012-06-11/u-dot-k-dot-rics-index-of-house-prices-remained-negative-in-may

(can't link to the original)

A U.K. house-price index stayed negative in May as the crisis in Europe and the end of a tax exemption for first-time buyers limited demand, the Royal Institution of Chartered Surveyors said.



The gauge rose to minus 16 from minus 19 in April, which was a six-month low, London-based RICS said today, citing a monthly poll of property surveyors. A reading below zero means more surveyors saw price drops than gains last month. A measure of demand fell to a four-month low.......


......A measure of new buyer inquiries dropped to minus 1 from 5, the lowest since January, and a gauge of sales expectations fell to 9 from 14, the report said. Over the past three months, the price indexes for 11 of 12 regions tracked by RICS showed declines, with Northern Ireland showing the lowest measure, at minus 54. The exception was London, where the gauge was plus 44.

The-Joker

homelessskilledworker wrote: »

Looks like you have me bang to rights as well:silenced::silenced::silenced:

Great how you put all us bears in our place

Yep all us propbears are in our place, we have been proved right. The bear market in property is clear to see.

All the permaprob bulls who have been ramping property have been proved wrong without any doubt.