U.K. Surveyor Home Price Results Almost Reach Historic Low in Feb.
- Mar 11, 2008
London–The number of surveyors reporting U.K. home price declines in February hit near-historic 1990 levels, according to the London-based Royal Institution of Chartered Surveyors (Rics).Housing supply has risen as cautious buyers wait out the faltering market, BBC News reports. About 64.1 percent more surveyors saw a drop in home prices last month, an increase from 54.7 percent in January.U.K. home prices have fallen for the seventh month in a row and landed near the June 1990 low, when 64.5 percent more surveyors found home prices had fallen instead of increased.However, Scotland appears to be an exception, with 25 percent more surveyors reporting price growth.