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| Version 1 | Version 2 |
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| Estate agents have lowest stock of homes for 40 years | Estate agents have lowest stock of homes for 40 years |
| (35 minutes later) | |
| The UK housing market is in a state of lethargy, according to property surveyors, with estate agents reporting the lowest stock of properties for nearly 40 years. | The UK housing market is in a state of lethargy, according to property surveyors, with estate agents reporting the lowest stock of properties for nearly 40 years. |
| Members of the Royal Institution of Chartered Surveyors (RICS) said the market might continue "flatlining" for a while. | |
| New instructions in June fell for the 16th month in a row. | New instructions in June fell for the 16th month in a row. |
| Most surveyors also saw further falls in the number of properties being sold. | Most surveyors also saw further falls in the number of properties being sold. |
| The average number of homes on the books of estate agents fell to 42.5 - the lowest number since the survey started in January 1978. | The average number of homes on the books of estate agents fell to 42.5 - the lowest number since the survey started in January 1978. |
| "Political uncertainty" was given by 44% of surveyors as the main reason for the pessimism - nearly double the number who blamed Brexit. | "Political uncertainty" was given by 44% of surveyors as the main reason for the pessimism - nearly double the number who blamed Brexit. |
| Simon Rubinsohn, RICS' chief economist, said that uncertainty seemed to be "exerting itself on transaction levels, which are flat-lining, and may continue to do so for a while, particularly given the ongoing challenge presented by the low level of stock on the market". | |
| New price divide | New price divide |
| Last week, the Halifax, Britain's largest lender, reported that prices fell by 1% in June, with annual growth slipping to 2.6%. | Last week, the Halifax, Britain's largest lender, reported that prices fell by 1% in June, with annual growth slipping to 2.6%. |
| The RICS survey suggests that property values actually rose during the month. | |
| However, that hides an increasing regional divide in price growth. | However, that hides an increasing regional divide in price growth. |
| Five years ago, prices in the South of the country were roaring ahead of prices in the North, but now there has been a reversal. | Five years ago, prices in the South of the country were roaring ahead of prices in the North, but now there has been a reversal. |
| Prices in London are falling, while they are flat in East Anglia and the South East, according to the RICS survey. | |
| By contrast, property values in the North West, Wales, Northern Ireland and the West Midlands are rising significantly. | By contrast, property values in the North West, Wales, Northern Ireland and the West Midlands are rising significantly. |
| "The latest results demonstrate the danger, however tempting, of talking about a single housing market across the country," said Mr Rubinsohn. | "The latest results demonstrate the danger, however tempting, of talking about a single housing market across the country," said Mr Rubinsohn. |
| "RICS indicators, particularly regarding the price trend, are pointing towards an increasingly divergent picture." | |
| Where can I afford to live? | Where can I afford to live? |