Housing boom flop

The eagerly-awaited housing boom in January, normally the busiest time of the year for the market, failed to materialise according to a new survey carried out by the Royal Institution of Chartered Surveyors.

Only 36 per cent of registered estate agents reported a rise in enquiries. The RICS blamed job insecurity, debt fears, and Government policies designed to choke inflation.

"It would be better if some of the pressure was gently released to allow the market to roll forward steadily", a company spokesman said.