House sales fall again but surveyors scent recovery

House sales have fallen to their lowest level since 1978, but a recovery may be around the corner, according to the latest figures from the Royal Institution of Chartered Surveyors.

In the October RICS housing market survey, the number of sales reported per suveyor dropped to 10.9 for the past three months, with London reporting just 6.4 sales per surveyor.

However, there was one positive note. The number of surveyors reporting a fall rather than a rise in house prices fell from 84.5% in September to 81.8%.

• More analysis on the RICS figures on Brian Green's Brickonomics blog