From The BBC:
Property sales may pick up in the next few months, according to a survey from the Royal Institution of Chartered Surveyors (Rics).
It said lower house prices had prompted renewed interest from potential buyers, especially those who already own a house or flat.
However, first-time buyers were still largely locked out of the market.
House prices fell by 10% in 2008 in the UK, according to the government’s own house price survey.
The figures from the Department for Communities and Local Government (DCLG) showed that the average UK house price had fallen to £195,317 by December, a drop of £22,690 over the year.
Rics said it expected the pick up in interest from buyers to continue as prices decline.
“Interest from owner-occupiers is likely to persist over the comings months as those with large deposits look to capitalise on the drop in house prices,” said Simon Rubinsohn, Rics chief economist.
Lower prices
Prices have dropped by about 20% since their peak in the summer of 2007, a…
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