RICS reports low mortgage activity
www.moneynews.co.uk > Mortgages > RICS reports low mortgage activity
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RICS reports low mortgage activity
Tue 14th Jun 2011
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The organisation has revealed that the housing market remains unstable due to concerns over the economy and limited mortgage finance.
Sales recorded in May dropped from the previous month, with only five per cent of surveyors reporting an increase in activity.
In addition, statistics revealed a reduction in the level of interest in viewing properties throughout May, with figures falling by two per cent.
Ian Perry, RICS housing spokesman, said: "Buyer interest in purchasing property remains flat across much of the country and there is little sign of this changing any time soon."
Working alongside businesses, the government and the media, RICS aims to monitor important issues concerning the property market.
The organisation urges businesses to seek the approval of technical surveyors in a bid to add value to their decisions.
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