"The longer-term 12- month outlook shows a marked deterioration, with both [home] price and sales expectations now negative"
- Royal Institution of Chartered Surveyors
U.K. house prices fell for a fourth month in June to the lowest level in 12 months, Royal Institution of Chartered Surveyors data showed on Tuesday. An index measuring prices decreased to minus 24 from minus 22 the prior month.
"The outlook for the next three months remains broadly unchanged," RICS said in the statement. "The longer-term 12- month outlook shows a marked deterioration, with both price and sales expectations now negative."
"A combination of summer holidays and Olympics has meant that activity has slowed," said James Gubbins, a real-estate agent in the Westminster area of London.
U.K. stocks fell further on Monday. The FTSE 100 Index erased 0.26 per cent, or 15.23 points to 5,831.88. The broader FTSE All-Share Index declined 0.26 per cent.
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