House price falls ‘are spreading’
The number of UK surveyors reporting falls in property prices has risen for the ninth month in a row.
In the latest survey from the Royal Institution of Chartered Surveyors (Rics), 95.1% more surveyors saw house prices fall than rise in April.
That figure is up from 79.4% in March, with all surveyors in East Anglia, and the North and North West of England, reporting price falls.
There has also been a continued fall in enquiries from prospective buyers.
The number of house sales being completed over the last 3 months has fallen significantly said Rics, with an average of just 18 sales per surveyor
High Street Sales Hit Three-Year Low
The High Street suffered its worst performance for three years in April as retail sales fell for the second month in a row.
Clothing and footwear stores were worst hit as like-for-like sales fell 1.5%, according to the British Retail Consortium (BRC).
This followed a 1.6% drop in sales in March - and the BRC believes the trend is likely to continue.
BRC Director-general Stephen Robertson said higher fuel and utility bills were partly to blame.
They were “eating away at people’s spare cash” and shoppers were putting food before other items.
“Retailers will look to the recent sunny weather to provide some boost, ” said Mr Robertson.
“But with the economic fundamentals remaining weak, there seems no reason for these tough trading conditions to improve soon.”
Source: Sky News Read More