House Prices Down in July
The latest RICS survey shows average house prices fell in July. The fall is being blamed on an increase in supply but also a fall in demand because of economic uncertainty and the possibility of a double-dip recession.One RICS member in Worcestershire said the markt is the worst that it has ever been, blaming the Government's deficit reduction measures for stalling demand.
A separate report shows that the conditions for first-time buyers is the worst in decades, showing that they need to borrow more and raise a larger deposit than at any point in the last 25 years.
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