UK DATA: House Prices, Expectations Fall Sharply – RICS
–RICS: Net -32% Surveyors Saw UK House Prices Fall In Aug vs -8% Jul
–RICS: Aug Sales To Stocks Ratio 24.7 Vs Jul’s 24.0
–RICS: August Price Net Balance Lowest Since May 2009
————————————————————————
An increasing number of surveyors are seeing house prices fall and
predict further falls ahead, according to the latest RICS house market
survey. The seasonally adjusted headline net price balance slipped to
-32% in August from -8% in July, the second consecutive monthly decline
and the lowest reading since May 2009, as a trend of increasing supply
and dwindling demand continued to undermine prices last month. Further
evidence of the lack of UK house price inflation, and the risks of
deflation.