Post date: Sep 14, 2010 11:50:16 AM
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House prices in Britain see their biggest fall since May 2009, said a Royal Institution of Chartered Surveyors survey.
UK-HOUSE PRICES SNAP - UK house prices have fallen to their lowest since May last year.
A survey from the Royal Institution of Chartered Surveyors said the property market had its sharpest one month drop in August, not seen since June 2004.
Newly-agreed sales in England and Wales also saw their biggest fall in two years.
Economists predict a further weakening in prices for the rest of the year.
Prices are also likely to be impacted by planned job losses in the public sector due to government spending cuts.
Basmah Fahim, Reuters.