Fewer homes put on market in February according to RICS
RICS UK Residential Market Survey – February 2018 released today headlines ‘Further fall in housing stock as demnd also falls for the eleventh month’
The survey reveals the indicators for future activity in the UK housing market remain subdued. New buyer enquiries fall for the eleventh consecutive month as average stocks on estate agents’ books hits fresh record low. Results continue to signal significant regional variation across the country.
Simon Rubinsohn, RICS Chief Economist said:
“The consultation announced earlier this week on housing delivery put the onus squarely on developers and planning departments to up their game to lift the supply pipeline, but the feedback to the latest RICS Residential Market Survey casts some doubt as to whether this will be sufficient to address the challenge.
“Significantly, the longer term national house price indicator has begun to creep upwards once again in recent months despite the current somewhat mixed climate and the private rent series also remains firm, in both cases pointing to increases of at least fifteen percent over the next five years.
“Meanwhile, the divergent regional picture is becoming increasingly pronounced with key RICS indicators across huge swathes of the country still showing considerable resilience but data for London, the South East and East Anglia rather more subdued.”
Read the RICS UK Residential Market Survey – February 2018 released 8th March 2018 in full click here.
Read also RICS UK Residential Market Survey: Devolved Regional Outlook released 8th March 2018 in full click here.
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