Housing demand and prices have fallen across the UK and estate agents are at their most gloomy in 14 years as surging mortgage rates hit the market, according to a leading property survey.
The Royal Institution of Chartered Surveyors on Thursday said its house price balance, which measures the difference between the percentage of surveyors seeing rises and falls in home prices, fell to minus 46 last month from minus 30 in May.
The drop represented the lowest reading on the index since April 2009, apart from February when it also stood at minus 46.
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