Everest industry news
Housing market stable and price falls 'modest'
14 May 2008
The latest property market assessment from the Royal Institution of Chartered Surveyors shows that price falls nationwide are "modest".A recent poll shows that 95 per cent of surveyors around the country are witnessing declines, but that the "extent of the fall" is limited.
Restricted supply is helping to stabilise the reductions, according to the organisation's experts.
Most homeowners are content to stay put at present and conduct home improvements in order to satisfy demand for extra space, such as by adding a conservatory or converting the loft.
The ratio of surveyors noting a fall in the number of new buyer enquiries rose to 68 per cent in April, compared to 51 per cent in January.
"The report reflects our own take on the market," explained National Association of Estate Agents chief executive Peter Bolton King.
"The house prices falls that are taking place are modest and the picture is still patchy with some areas of the country finding it tougher than others."
Homeowners keen to sell up with see less competition than usual on the market, but are still advised to consider home improvements that might help to improve their property's value.
Double glazing is one of the most highly recommended additions, since it can not only help shut out external noise, but also improve the energy efficiency of the home.
