RICS: Election causing uncertainty in housing market

THE Royal Institute of Chartered Surveyors claims the General Election is causing uncertainty in the housing market with prices falling for the first time in six months across Cambridgeshire. Its housing market survey also found the number of people putti

THE Royal Institute of Chartered Surveyors claims the General Election is causing uncertainty in the housing market with prices falling for the first time in six months across Cambridgeshire.

Its housing market survey also found the number of people putting their properties on the market fell in March.

But estate agents Thomas Morris said neither was the case in Huntingdonshire.

Russell Sansby, partner at the High Street estate agents, said: "We have not seen that trend - with properties coming into the market or people buying."


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In the East of England there were more chartered surveyors reporting a drop in house prices than a rise for the first time since September 2009.

The report claimed the number of people inquiring about buying houses also fell across the East, with 22 per cent of chartered surveyors reporting a fall compared with 14 per cent in February.

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RICS claimed political uncertainty was making people delay plans to market their property before the elections.

RICS East operations director, David Potter, said: "With the uncertainty growing over the political direction of the country, people are beginning to hold back on selling and purchasing decisions until the dust has settled."

Mr Sansby added: "In the first quarter more properties come on the market in than in the first quarter of 2009 and the trend continued in March for us. The reason is because people saw prices stabilise in 2009 and are getting on with their plans to move.

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