Surveyors' views on house prices

Sales are often taking longer to secure, say surveyors

Property surveyors say their confidence in the housing market has dropped to its lowest point for 30 years.

But the picture is not the same across the whole of the UK, and some believe the gloom about the property market has been overstated.

Here is a selection of some of the views of surveyors who were consulted for the Royal Institution of Chartered Surveyors' (Rics) UK housing market survey.

"Despite the constant outpourings of doom from the media, the market is still ticking over and showing signs of modest improvement," said Stephen Gadsby, of Gadsby Orridge in Derby.

"It is still 'steady as she goes'. The market has picked up a little since the turn of the year, although the speed of sales is still longer than last year," said Chris Highton, of Allied Surveyors in Scotland.

"Terminal 5 opening is giving people confidence in Staines as an area, with general opinion being that it should still be a good investment area even in the current negative climate being generated by the media," said John Frost, of the Frost Partnership in Middlesex.

"We now need 25 viewings per sale. Normally we need 14. There are lots of enquiries, but fewer sales, and no sign of improvement," said Keith Johnson, of JW Wood in Durham.

The market has now reached a very critical level John Frost, surveyor Housing gloom 'worst in 30 years'

"The market remains very nervous. Purchasers are awaiting events and very few deals are being struck. Few properties are coming to the market, so a scarcity situation may result," said Graham Adnitt, of Jackson Stoops and Staff in Cheshire.

"Any agents waiting for the market to pick up in the spring are going to be disappointed. Any property on your books that is not selling will need a price reduction, minimum 5%. Take a lesson from the stock market - the quicker the price correction the better. If we, as agents, don't press for price reductions now, we will be looking at a stagnant market for at least two years," said Michael Joyce, Cooper and Tanner in Somerset.

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