House prices drop again – 19/04 Another house price survey has confirmed a downward trend in house prices, moreover one that is accelerating, according to the Royal Institution of Chartered Surveyors (RICS).

The report, highly regarded by economists and property professionals alike, said: “Purchase enquiries and sales showed no movement in March, with continued uncertainty over interest rate prospects also curtailing activity.”

Financial adviser Martin Cunningham said: “The ratio of completed house sales to stocks edged up to 29% in March, after a fall to 27% in the previous month. But the ratio is still well below the long-term figure of 37% seen since 1978.”