A report from the Royal Institution of Chartered Surveyors is the latest verdict that the decade long housing boom is over. It shows that across England and Wales house prices are falling in every region, with record levels of decline being reported in East Anglia, the South West, Yorkshire, Humberside and the East Midlands.
The average estate agent now has 92 properties for sale on it's books - the highest for a decade, with the average number of unsold properties increasin to 49% in the past 12 months.
Overall, the RICS report found the 'balance' of estate agents reporting a fall in house prices is at its highest level since 1990 - the time of the last property crash when prices started falling and did not recover for 6 years.
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