Homes market declines

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Interest from would-be house buyers in Yorkshire and Humber has dipped and the number of new homes coming onto the market has fallen, according to the Royal Institution of Chartered Surveyors.

The subdued level of supply and demand is being made worse by the continuing difficulties many buyers are experiencing when trying to get a mortgage.

Prices across the region continued to decline in July and are expected to keep falling over the next three months, although surveyors believe the number of sales may increase.

RICS Yorkshire and Humberside spokesman Mark John Hunter, from Doncaster estate agents Grice and Hunter, said: “Even after five years of recession the market remains over supplied with too much property that is over priced.

“It is unlikely that we will see any real movement in the housing market until purchasing a property is more affordable and accessible, especially for first time buyers.”