RICS Reports Lack of Impetus in Residential Sales Market

May 02, 2017

Residential Property

RICS Reports Lack of Impetus in Residential Sales Market

The Royal Institute of Chartered Surveyors (RICS) reports a lack of impetus in residential sales market

According to a recent RICS press release, the UK housing market continues to lack impetus, with data suggesting the numbers of new buyer enquiries and agreed sales in March was stagnant.

Although the picture varies in different parts of the UK, areas with declining buyer interest outweigh those with increasing demand. Of the areas where demand is increasing the best performing are the Southwest and London (up 34 percent and 9 percent respectively).

While the purchase market has slowed, tenant demand in the lettings market continues to rise, however it remains more modest when compared with March 2016. With fewer landlord instructions the imbalance continues to drive rents upwards.

The full RICS press release can be found here.

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posted by Kate Garrow | May 02 2017