The housing market prices are due to drop by 2% in the next year, the view from the RICS being widely reported in the mainstream media seems to be the general tone that is being set for the challenges the property market and the economy at large are set to face in 2011. As mentioned in another entry on this blog, 2011 is likely to be no less tougher than the past few years have been.
However, the bright side in such gloomy times are that the RICS also predicts that the drop is unlikely to be exceed 5% which may be a slight silver lining.
The RICS also shares and expresses the same view as expressed on this blog that first time buyers will be all in likelihood frozen out for a considerable period of time 
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