RICS: Housing market activity to rise

RICS figures for August showed that the balance of new sales fell sharply from +1 in July to -20 in August. Yet, 18% more surveyors now expect sales to rise in the next three months compared to 8% in July. RICS attributed this increase in optimism to falling house prices tempting prospective buyers back to the market. Indeed, 32% more surveyors reported falling house prices than rising in August, the highest negative reading since May 2009. An increase in supply and dropping demand has pushed prices down for the second consecutive month, according to RICS. Scotland was the only reg...