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MNI (London)
By David Robinson
     UK house prices rises flattened out in the three months through October, a
survey by the Royal Institution of Chartered Surveyors Thursday showed.
     A net 1% of surveyors reported a price rise in the three months through
October, down from a net 6% in the three months through September. Demand
atrophied in October, with a net 20% of respondents reporting a fall in new
buyer enquiries over the month.
     The RICS survey adds to the evidence of a cooling housing market, with
weakening demand meeting thinning supply. A net 20% of respondents reported a
fall in agreed sales.
     RICS said its price data were "consistent with a flat price trend on a UK
wide basis, although there remains significant differences between regions."
     Looking forward, property surveyors expected national sales expectations to
flat-line over the next three months, with the twelve month sales forecast just
edging into negative territory.
     The RICS survey covers the balance of surveyors across the country
reporting price and demand and supply rises or falls, giving the dispersion
rather than the magnitude of the moves.
--MNI London Bureau; tel: +44 203-586-2223; email: david.robinson@marketnews.com
[TOPICS: MABDS$,M$B$$$,M$E$$$]
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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