The Royal Institution of Chartered Surveyors (RICS) said its September price
balance fell to -32 from -28 in August, a larger drop than market surveys had
forecast, while new listings rose for the first time since mid-last year. RICS
research head Tarrant Parsons said rising rate-hike expectations are adding
fresh headwinds, making buyers more cautious and slowing sales. RICS members
expect further price declines over the next three months but for prices to
stabilize within 12 months.
