RICS - South East House Price Rises Slow Due to Threat of War and the Economy
The rise in house prices slowed for the fourth consecutive month in January according to the latest Housing Market Survey published on 20th February by the RICS.
The seemingly relentless rise in the housing market slowed in comparison to previous months due to fears of general economic slowdown and the increasing fears of war with Iraq. Prices declined by a tiny percentage in London and parts of the South East, and remained static in the South West, Midlands and East Anglia. Prices across northern England and Wales continued to increase strongly.
Conversely the RICS also reported a significant increase in the number of people registering to buy residential property in January, which could impact on the level of sales in the next few months.