Prices fall for fourth month in a row
The latest monthly study from the Royal Institution of Chartered Surveyors (Rics) has revealed that price expectations, newly agreed sales and overall housing market sentiment all fell in November.
The research found that price expectations are now at their lowest levels for more than nine years, while the rate of decline in newly agreed sales was the fastest since April 1999.
Meanwhile 40.6 per cent more chartered surveyors reported a decline as opposed to a rise in prices last month, compared with 23.4 per cent in October.
"Activity stagnated for us in November rather than deteriorating further from the low levels of the previous month. However, new applicants and new instructions are very hard to come by, especially those requiring Hips," said Jeremy Leaf from Jeremy Leaf & Co.
The study comes on the back of the latest Nationwide house price index, which revealed that prices fell by 0.8 per cent last month.
Finance your build or renovation with one of BuildStore's unique finance packages 
© Adfero Ltd