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House Prices In The South East Remain Volatile

LONDON-Residential prices in the south-east UK continue to fall, while prices in the north of England show a steady rise, according to the latest residential housing survey by the Royal Institution of Chartered Surveyors

By Charlie Jacoby | Updated on December 19, 2001

LONDON-Property prices in the “hot” residential market around London are taking a battering. New figures from the Royal Institution of Chartered Surveyors show that, in the South-East of England, the difference between chartered surveyors reporting a fall in prices against those reporting a rise was 37%, up from 28% last month. In London 56% more chartered surveyors reported falls against those reporting rises. Last month that figure was 53%.

The northern regions of England, especially Yorkshire and Humberside were, by contrast, much steadier enjoying a slight rise. This reflects the more stable nature of the market, with 40% more surveyors in the region reporting rises than falls, up 4% from last month.

Nationally, the picture was one of a steady market with 2% more surveyors reporting a rise than a fall, slightly down from 5% last month. Many chartered surveyors are also reporting that buyer enquiries are beginning to pick up, giving increased confidence for future months.

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