Property sales numbers fall

Estate agents in London have experienced another month of slow sales, says the latest report from the Royal Institute of Chartered Surveyors, averaging out at just seven per agent. Property transactions in the UK as a whole fell to an average of 10.6 an estate agent in the three months to November, down from 10.9 in the same period to October, the lowest figure since 1978.

However, there RICS also said that buyer interest increased in November for the first time in two years, particularly in the West Midlands and the South West. House prices are still weak with 77% more surveyors saying prices fell than reported rises last month.

RICS spokesman, Jeremy Leaf, said: ‘Many are starting to see the current market as an opportunity to purchase a previously unaffordable property. But unless people feel relatively confident about their job prospects, they're unlikely to even try to obtain mortgage finance.’