Housing property prices are expected to fall

According to the surveyors, the house prices are expected to fall in the upcoming months because of larger number of home sales and economic uncertainty. The survey was done by the Royal Institution of Chartered Surveyors (Rics). This fall would be the first fall in the property prices since the last part of 2008.

As per the accountants of PricewaterhouseCoopers the house price will not touch its highest point, which has been recorded in 2007 at the peak of the market.

The Rics survey has shown that the interest of the home buyers fell down for the second time after 2008 October.

As per experts, this fall was occurred as the buyers were not sure about the economic stability as the government implemented different types of cuts.

The price estimation of the houses varies in different places in a country, so the surveyors are expecting the prices to increase in the upcoming months in London and Scotland.

The economists are expecting the prices to be flat during the second half of the year 2010. People are not turning towards the house market because of the unstable economic states.