House prices 'are starting to fall'
House prices are starting to fall, the Royal Institution of Chartered Surveyors has said.
Most surveyors had seen no change in the past three months, but those seeing a fall in prices outnumbered those reporting a rise.
It was the first time since July last year that the monthly survey has detected a downturn.
They say the reason for the downturn in prices is because more homes are being put up for sale. But worries about the economy and the difficulty in getting a mortgage are putting off new buyers as well.
Separate figures showed that growth in UK retail sales slowed sharply in July on fears about government cuts.
Emma Simpson reports.
10 Aug 2010
- From the section Business