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| Housing market reaches plateau, say surveyors | Housing market reaches plateau, say surveyors |
| (about 1 hour later) | |
| The housing market has reached a "plateau", according to a survey of chartered surveyors across the UK. | The housing market has reached a "plateau", according to a survey of chartered surveyors across the UK. |
| The Royal Institution of Chartered Surveyors (RICS) said the number of house sales agreed in August fell for the first time in two years. | The Royal Institution of Chartered Surveyors (RICS) said the number of house sales agreed in August fell for the first time in two years. |
| Surveyors also expect prices to rise more rapidly outside London than in it. | Surveyors also expect prices to rise more rapidly outside London than in it. |
| The biggest increases are expected in Northern Ireland, The East Midlands and Scotland. | The biggest increases are expected in Northern Ireland, The East Midlands and Scotland. |
| RICS said price momentum in London had started to "soften", as flats and houses had become more unaffordable. | RICS said price momentum in London had started to "soften", as flats and houses had become more unaffordable. |
| "In some areas the recovery has only recently taken hold and affordability is rather less stretched," said Simon Rubinsohn, RICS chief economist. | "In some areas the recovery has only recently taken hold and affordability is rather less stretched," said Simon Rubinsohn, RICS chief economist. |
| "Significantly, members now expect price gains over the next year to be faster outside of the capital, than in it." | "Significantly, members now expect price gains over the next year to be faster outside of the capital, than in it." |
| Capital Economics said it was further evidence that the market was running out of steam. | Capital Economics said it was further evidence that the market was running out of steam. |
| The survey also revealed a big fall in the number of enquiries from new buyers, and a lengthening in the time it takes for sales to go through. | The survey also revealed a big fall in the number of enquiries from new buyers, and a lengthening in the time it takes for sales to go through. |
| RICS blamed the new, tougher, mortgage rules for the slow-down, which came into effect in April. | RICS blamed the new, tougher, mortgage rules for the slow-down, which came into effect in April. |
| They said the prospect of a first rise in interest rates for over five years was also having an effect. | They said the prospect of a first rise in interest rates for over five years was also having an effect. |
| Have you bought a property recently? Are you a first-time buyer or trying to get on the property ladder? Tell us your experiences by emailing us at haveyoursay@bbc.co.uk |