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10.19.04 07:20 Author: J.R. Lambert
Houses prices continue to fall in UK
Property market to threaten months of stagnation
House prices have been falling for the fourth month in a row in Great Britain. Scotland was the only region where property values have increased last month. “The proportion of its members reporting price falls was the highest for nine years”, surveys of the Royal Institution of Chartered Surveyors said.
The RICS housing market report said the decrease in house prices was the biggest since 1995.
Property price fall were in southern England in reaction to higher interest rate. Housing boom in Northern England and Wales is over. “The market "is clearly now showing signs of the correction we have been predicting all year", the National Association of Estate Agents said.
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