RICS: sales of homes at lowest level since records began

The number of homes changing hands has fallen to its lowest level in 30 years, figures published today have shown.

The Royal Institution of Chartered Surveyors (RICS) said that estate agents sold an average of just 17.4 properties each in the three months to May - the lowest level since its records began in 1978.

But price data improved slightly, with 92.9% more surveyors saying they had seen prices fall in May than those reporting a rise.

In April, the proportion of surveyors reporting a fall stood at 94.7% more than those registering a rise.