Brexit is battering the UK property market, pushing it to its weakest level in more than six years, with almost half of surveyors reporting that sellers and buyers are sitting tight because of political uncertainty.
The Royal Institution of Chartered Surveyors (Rics) said its monthly indicators for demand, supply and prices fell to multiyear lows in November.
The number of people looking for a new home fell again, with many surveyors attributing this to Brexit uncertainty. The net balance of -21%, down from -15% in October, was the lowest since September 2017.
Weaker demand dragged down property prices. The price balance slipped to -11% in November from -10% in October, marking the lowest reading since September 2012.
House prices have been falling in London, the south-east and East Anglia, while in the south-west, east Midlands and north-east they have been broadly flat. There were price rises in Northern Ireland, Scotland, West Midlands, Wales, Yorkshire and Humber and the north-west.