House prices fall further in April
Recent house price data from the Royal Institution of Chartered Surveyors (Rics) reflects the diminishing confidence in the UK property market.
That is according to the National Association of Estate Agents (NAEA), which noted that it is becoming increasingly difficult for buyers to make their first house purchase.
It was revealed by the latest Rics housing market survey, published yesterday (Tuesday, May 13th), that in April this year 95.1 per cent more chartered surveyors reported a fall than a rise in property values.
Peter Bolton King, chief executive of the NAEA, commented: "There is no denying that the credit crunch has affected confidence in the market - especially first-time buyers who are finding it hard to find financing to get on the ladder.
"But it is still important to remember that the underlying factors that support the property market remain: low unemployment, historically low interest rates and a pent-up demand for houses."
House Prices News posted on 14/05/2008 12:37:49
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