Lamport Bassitt Solicitors - Legal News - House prices and repossessions to fall in 2011, says Rics


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS House prices and repossessions to fall in 2011, says Rics Residential property conveyancing is likely to be affected by falling house prices next year. The Royal Institution for Chartered Surveyors (Rics) predicts that while the start of the year will see property prices drop, there should be some recovery as demand outstrips supply. Rics also said that it expects to see fewer repossessions, based on figures from the third quarter of 2010 showing a 26 per cent fall in claims compared to the same period in 2009. Commenting, chief economist Simon Rubinsohn said: "The lack of supply in the market is likely to prevent significant house price declines in 2011. "The narrowing gap between supply and demand will see the gentle downward trend in prices currently taking place at least partly reversed as the year wears on." He went on to say that the number of completions should remain flat at 900,000. Rics reported earlier this month that the housing market continued to slow during November. Posted by Gaby Hamerton Related Articles: 17/5/2012 - Discussing death remains taboo as wills and inheritance tax planning suffers 11/5/2012 - Queen's Speech legal reforms welcomed 4/5/2012 - Create Lasting Power of Attorney before it's too late 2/5/2012 - Support for will writing regulation grows 25/4/2012 - Inheritance tax planning could net �450m a year in savings More Individual Legal Services News