Gloom over house prices

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PROPERTY prices in the North East have fallen.

According to the latest RICS UK Housing Market survey, 21 per cent more chartered surveyors reported falls rather than rises in house prices, while expectations for future prices remained at a low level in April.

Despite this, demand from potential buyers increased slightly, as nine per cent more surveyors reported increases rather than decreases in new inquiries.

London was the only area of the country to report a rise in prices, which were still at the slowest rate since the middle of 2011.