Confidence in Britain’s housing market has sunk to its lowest level for more than 30 years, figures to be published today will reveal, as property prices continue to fall and mortgage lenders restrict home loan finance. The Royal Institute of Chartered Surveyors (Rics) says that 95 per cent more surveyors reported a fall in house prices in April than a rise, the worst figure it has reported since it began publishing monthly property market surveys in January 1978.
In some areas of the country, including East Anglia, the North and North-west of England, not a single surveyor reported house price increases, with 100 per cent reporting declines during April. Even in Scotland, where the housing market has been more robust in recent months, Rics says more surveyors are now reporting house price falls than rises.
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