By Daniel Hunter

The dip in the growth of the housing market is only "temporary", according to the Royal Institute of Chartered Surveyors (Rics).

Rics said that demand for new buyers had slowed for the fourth consecutive month in October.

It adds to data from the likes of Nationwide, Halifax and Land Registry which suggest that the growth of prices and demand is slowing down.

Rics said sales in all bar a few regions in England and Wales had slowed in October.

Simon Rubinsohn, chief economist at Rics, said potential buyers are a "little more cautious" due to stricter lending rules and a potential interest rates increase.

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