The RICS has reported much weaker demand among home buyers in its monthly update

House prices fell in July for the first time in a year. The institution said the balance of surveyors reporting a rise rather than a fall in prices was -8%, the first negative score since this time last year; in June the net score was +8% compared with June. The RICS said prices fell in seven of its 10 regions, with prices weakest in the east of England and the West Midlands. Only London and the north-west of England reported rises.