House sales hit 30 year low

House sales have fallen to their lowest level since records began 30 years ago.

According to the Royal Institute of Chartered Surveyors, estate agents sold an average of 15 properties in the three months to the end of June.

That is the lowest figure since records began in 1978 and a 40% fall on the same period last year.

House prices are also remaining at near record lows as buyers discount their asking prices to make a sale.

Surveyors reporting house price falls rather than rises was 88% in June, a slight improvement from 92.2% in May, according to the Financial Times.

Almost 70% of surveyors in England and Wales expect prices to fall, while 14% more surveyors reported falls in Scotland.