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More surveyors saw a fall in new instructions in September than reported a rise, according to a survey by the Royal Institution of Chartered Surveyors (RICS).
The figures indicate that supply levels are falling amid concerns that the country may be facing a double-dip recession. It comes despite providers of UK mortgages cutting their rates to encourage customers, and the boost to the mortgage market from record low interest rates.
The RICS survey also reveals that the decline in property prices outside London has continued, with surveyors recording prices falling rather than rising over the last three months.Property values continued to rise in the capital while all other regions reported a drop in prices, RICS said.
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