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Still no joy for UK housing market

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Still no joy for UK housing market

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House prices in England and Wales suffered their sharpest one month fall since June 2004 in August, sliding from -8 to -32 on the Royal Institute of Chartered Surveyors headline index.

The figures are close to worst-case forecasts, and the index for future house prices over the next three months also fell, from -28 to -38. Loans are hard to get, and there are fears public sector job cuts next year will also hit the market hard.