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House Prices Lowest In 16 Months

A new survey from the Royal Institution of Chartered Surveyors indicates that House prices in England and Wales experienced their largest fall in September since May 2009.

The RICS house price index dropped to -36 in the three months to September from -32 in the three months to August, a drop that the RICS has blamed on supply pressures as homeowners’ rush to sell before public spending cuts kick in next year. (more…)