Home sellers fear further downturn
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Homeowners are flocking to sell properties before the Coalition's spending cuts are revealed next week because they fear further deterioration in the economy, according to a survey.
The Royal Institute of Chartered Surveyors (RICS) said 22 per cent of surveyors had seen a rise in instructions last month, up from 12 per cent in August.
The demand for property remained subdued as buyers struggled to secure mortgage finance, or decided to wait and see how the market developed over the coming months, the RICS said. While the balance of inquiries by new buyers was minus 2 in September, it was a significant improvement on the minus 17 a month earlier.
House prices are still falling and 41 per cent more surveyors anticipate a further slump rather than a rise in property values. A spokesman for the RICS said: "The fresh influx of property to the market combined with a lack of buyers remains the key problem."
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments