House Price Growth continues to slow in July

August 11, 2016

Results from the RICS Residential Market Survey released today 11th August for July headlines ‘House price growth runs out of steam for now’.

The survey shows that house price growth continued to slow in the UK in July while key indicators covering price expectations, buyer enquiries, agreed sales and new instructions all remained firmly negative.

Sales and enquiries drop further,  although expectations point to a more stable picture in the coming months, stock levels at record lows in most parts of the UK as new instructions decline markedly.

Simon Rubinsohn, Chief Economist RICS said: “The housing market is currently balancing a raft of somewhat mixed economic news alongside the latest policy measures announced by the Bank of England, which have already begun to lower cost of mortgage finance. Against this backdrop, it is not altogether surprising that near term activity measures remain relatively flat. However the rebound in the key twelve month indicators in the July survey suggest that confidence remains more resilient than might have been anticipated.

“Critically, it is hard to escape the stark message regarding supply that is evident in the latest set of results with RICS data showing inventories on agents books around historic lows on average. This is a long running story that may have been exacerbated by recent events but clearly needs urgent action from the new government”.

 

 

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

Breaking News

FMB calls on Reeves to scrap housing tax threat

The Chancellor needs to scrap the Government’s proposed landfill tax quarry exemption which will add up to £28,000 to the cost of homes on small sites in next week’s Autumn Budget, says the Federation of Master Builders (FMB). Brian Berry, Chief Executive of the FMB, said: “At a time when the Government is failing to…
Read More →
Breaking News

Full Steam Ahead! UK Construction to return to growth in 2026

Construction intelligence specialists predict renewed activity following false-start over the summer. Revised figures will see UK construction sector grow 21% over the next two years Private housebuilding remains on course to grow significantly, with activity still predicted to rise by almost a fifth in 2027 Commercial office starts set to continue their ascent, and increasing…
Read More →
Breaking News

Winter is Coming: Douglas & Gordon Warns Landlords and Tenants to Take Action Before Disputes Occur

Mould, damp, burst pipes and boilers on the blink? With temperatures set to plummet in London this week, real-estate agent Douglas & Gordon is advising landlords and tenants to take action before issues occur. With 45% of landlords experiencing arrears or disputes, often linked to property condition or delayed maintenance* the agent’s expert lettings team…
Read More →
Breaking News

Home sellers slashing asking prices amid Budget speculation

The latest research from Property DriveBuy reveals that homesellers are slashing asking prices across the country in an attempt to attract buyers in a stagnant pre-Budget housing market. The latest asking price data* shows that the average asking price in Britain (£364,833) fell by -1.8% between October and November 2025, contributing to an overall annual…
Read More →
Breaking News

Mansion tax would hit London hardest

Mansion tax would hit London hardest, as capital accounts for 66% of all homes sold above £2m so far this year The latest data insight from Enness Global has revealed that, should the Chancellor introduce a 1% annual mansion tax on properties valued over £2 million, the measure would overwhelmingly target London homeowners, with two-thirds…
Read More →
Breaking News

Share of first-time buyers opting for low-deposit deals rose 8.6% in October

Barclays mortgage data shows deposits under £20,000 made up 22.1 per cent of first-time buyer completions in October 60 per cent of renters say they would require financial incentives or homebuying support schemes to get onto the property ladder Confidence in the housing market dipped three percentage points to 24 per cent month-on-month, although sentiment…
Read More →