UK Housing market saw a stable trend in new instructions in May according to RICS

Latest RICS Residential Market Survey report for May 2018 headlines ‘Residential sales flat in May.’

The survey has shown a few signs of life as houses start to come back on to the market, but overall activity has remained flat and is looking unlikely to gain any impetus in the near term.

The report reveals that the number of homes coming on to the housing market turns positive for the first time since 2016, the UK housing market saw a stable trend in new instructions in May, with the headline indicator turning positive for the first time in more than two years (27 months).

Buyer demand continues to decline at a headline level but to a lesser extent than at the start of 2018, however the regional picture is still incredibly mixed according to RICS.

Simon Rubinshn RICS Chief Economist said:

“Although agents are suggesting that a little more supply may have come onto the market in May, some of it from the Buy to Let sector, inventory levels still remain near historic lows. Indeed, with the run rate on appraisals continuing to track below the numbers of a year ago it is premature to conclude that a sustained upturn in available stock is imminent.

“Against this backdrop, it is likely that the headline picture regarding activity in the housing market will remain subdued for some months to come. This is reflected in the feedback to the latest survey which shows sales expectations only marginally positive on a one-year view.”

Read the latest RICS Residential Market Survey report for May 2018 in full click here.

 

 

 

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Rightmove logo
Breaking News

Rightmove’s weekly mortgage tracker 10/01/25

Commenting on the rise in UK borrowing costs and the potential impact on mortgage rates, Rightmove’s expert Matt Smith says: “The short term impact is that mortgage rates are likely to rise, as the cost of borrowing increases impacts lenders. However, this is unlikely to be significant and certainly not completely unexpected. Looking a bit…
Read More
Breaking News

Access to Rented Housing Will Be Harder for Tenants Most In Need

Responding to amendments tabled to the Renters’ Rights Bill by the Government to restrict the amount of rent that can be sought in advance, Chris Norris, Policy Director for the National Residential Landlords Association, said: “Restricting rent in advance, combined with freezing housing benefit rates and not enough rental housing to meet demand is creating…
Read More
Home and Living

Top Reasons to Hire JD Movers in Melbourne

Moving can feel like an awkward dance—one misstep, and you’re tangled up in a mess of cardboard and bubble wrap. We all know moving is stressful. Moving can unravel even the most zen among us, whether in a studio apartment or a four-bedroom McMansion. In such a situation, hiring a moving company can ease the…
Read More
Love or Hate Rightmove
Breaking News

Rightmove launches Selling Sunderland with Charlotte Crosby and local agents

Rightmove, the UK’s largest property website, has launched Selling Sunderland, a playful parody of glamorous property TV shows, celebrating Sunderland’s charm and local agent expertise. The campaign features Sunderland favourite TV personality Charlotte Crosby, who teams up with local agents to showcase the city’s unique appeal. Together, they guide prospective buyers through three distinctive properties, blending…
Read More
Breaking News

Halifax House Price Index December 2024

House prices in December 2024 were 3.3% higher than the same month a year earlier.   House prices decreased by -0.2% in December Annually, property prices are up +3.3% (vs +4.7% last month) Typical property now costs £297,166 Northern Ireland maintains the strongest UK annual house price growth   Amanda Bryden, Head of Mortgages, Halifax,…
Read More
Home and Living

3 Solutions for Japanese Knotweed

Japanese knotweed is a notoriously invasive species known for its rapid growth, extensive underground rhizomes, and ability to disrupt ecosystems and property foundations. In the UK, including Ireland, its management is both a practical challenge and a legal responsibility. Homeowners and businesses must not only tackle this persistent plant but also adhere to regulations to…
Read More