Housing market failed to bounce back in Spring says RICS
Hopes for a Spring bounce in the housing market failed to materialise this year, according to the Royal Institute of Chartered Surveyors (RICS).
The continuing lack of mortgage finance and worries about the economy is still depressing the number and value of transactions.
The average number of completed sales per surveyor slipped to just 14.7 - its lowest level since January this year.
Simon Rubinsohn, RICS Chief Economist, says there needs to be greater progress in providing insurance schemes to mortgage lenders.
14 Jun 2011