Simon Rubinsohn of RICS noted on the latest release yesterday evening, ‘the latest results provide little encouragement that the drop in housing market activity is likely to be reversed any time soon. [This] also has implications to impact the wider economy contributing a softer trend in household spending’. Buyer demand in London fell for an 11th consecutive month while sales have been sliding since March last year. Survey respondents also reported that more than half had seen an increase in properties being withdrawn from the market.
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