Regular survey shows that the balance of surveyors reporting falling rather than rising prices is deteriorating (73.9 to 76.3 in January). Prices remain depressed largely as a result of the large stock of property remaining on agents' books. Buyer enquiries, on the other hand, improved for the third consecutive month. Completed sales per surveyor fell to 9.9, but this drop of 0.1 is marginal and would seem to indicate that a level of stability may be returning to the market (although the market remains depressed). Confidence in the sales outlook turned positive in January, but it remains well below historical averages. Some activity is returning to the market, which can be partially explained in the light of recent rate cuts and falling prices. This is having a positive effect on affordability, although it remains to be seen whether this is representative of a genuine shift in trends or the effects of investors re-entering the market.