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Thursday, July 17, 2008

House price falls but market remains dreary

House price falls eased somewhat this June, but market circumstances stay unwelcoming with sentiment near record lows, according to a review on Tuesday. The Royal Institution of Chartered Surveyors stated its house price balance - that calculates the balance of house property assessors reporting falls and rises in prices -- rose to -88.0 in the three months to June from -92.2 in May.

Market analysts had predicted a reading of -93.8 but the balance is only vaguely above the 30-year low hit during April of -94.2 and is probable to add to concerns about the future health of an already sharply deteriorating housing market. The ratio of sales to stocks of unsold property -- frequently cited by economists as a more dependable measure of the health of the market -- fell to 18.2 percent from 19.4 percent in the three months to May.

posted by Vijay @ 10:34 PM permanent link   | Post a Comment |

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