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House price balance 'worst for 30 years'

More surveyors believe that house prices are falling in the UK than at any time for 30 years, the Royal Institute of Chartered Surveyors (Rics) said today.According to the association, the disparity between negative and positive feeling on prices has dropped to -78.5 over the most recent quarter - a 13 point drop over the previous report.This also represents the single worst result since the survey began in 1978 - and follows figures from Halifax showing that house prices had dropped by 2.5 per cent in March.Rics spokesman Jeremy Leaf delivered a downbeat assessment on the housing market in the UK. "Sentiment is at a very low ebb and will continue to remain depressed while the economy suffers," he commented."The slowdown in prices is directly attributable to a lack of available finance [for mortgages] which has hit demand; however, until new supply increases dramatically a significant crash remains unlikely."

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