Those who rather foolishly rely on the capital appreciation of property (ie house price rises) to provide them with a psychological feeling of being wealthy, are set to be rather disappointed this Christmas.
The Royal Institution of Chartered Surveyors (RICS) reports that house prices kept falling in November, as a result of the slow economy and lack of funding for first-time buyers.
The number of transactions is very low and the overall market subdued.
This moribund market is expecting to continue into 2011.
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