Demand for Housing Drops

Demand for housing dropped by 2.2 per cent in August, according to a new survey. The Hometrack monthly national housing survey also stated that the number of homes for sale grew by 2.4 per cent in August, higher than the monthly average. The national monthly housing market survey is based on a monthly survey of estate agents and surveyors across all postcode districts across England and Wales. It was first published in mid 2000 and the results are based on the answers to a standard questionnaire of 11 questions. The latest survey stated that over the last five months, the supply of housing has grown by 14 per cent, and demand fell by 2 per cent. This is driving price falls across the market, down an average 0.3 per cent in August. Read more on Inside Housing.