Housing demand in South West still falling

PUBLISHED: 12:24 07 November 2011

Archant

Market survey shows South West housing market facing tough challenges

THE South West’s housing market continues to face challenges, says a RICS UK survey.

Prices and activity continued to fall in October, and demand turned negative for the first time in nine months.

RICS housing spokesperson, Ian Perry, said: “The South West is undoubtedly facing challenges, which aren’t helped by the chaotic events in the Euro area threatening to spill over to the UK.”

Banks are still imposing tough conditions on loans to first time buyers, meaning any recovery in sales is likely to be modest.

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