Overseas Property Investment News

UK Property Surveyors Idle

Further signs of a UK property slowdown came via The Uk’s Royal Institution of Chartered Surveyors (RICS). The unhappy suveyors who must be sitting around drinking tea said sales were at their lowest level since 1978.The average number of transactions per property surveyor fell even as sellers lowered their asking prices to more realistic levels. The government has recently raised the threshold for stamp duty, but even this may not be enough to help the sagging market. The new stamp duty won’t take effect until the price is above £175,000, up from £125,000. The government estimates that half of all transactions will now be exempt from stamp duty, which is up from one third under the old value.
When is it all going to end?
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Tags: credit crunch, homes sales, homesgofast, house prices, properties, property, RICS, surveyors, uk