House prices set to go lower

The Royal Institute of Chartered Surveyors (RICS) have surveyed their members, who feel that house prices in general are heading lower, with only London bucking the trend in any meaningful fashion. This survey forecasting the next three month's price movements and the news doesn't look good for houseowners waiting for better times.

Buyers are still having trouble getting mortgages however, especially at entry level where deposits of up to 30% are expected and it is these fresh entrants into the market that allow previous first time buyers to trade up a level, which just isn't happening at the moment.