House prices remain flat nationally according to latest RICS UK residential market survey report.

October 11, 2018

Latest RICS UK Residential Market Survey – September 2018 headlines ‘Weak sales outlook causing new homebuyers cold feet.’

The report reveals that demand from new buyers nationally has weakened slightly for the second successive month, making the forward-looking sales indicators also turn a little more pessimistic.

Prices remain flat nationally with regional variations still very pronounced and volume of fresh listings continues to fall in both the sales and lettings markets according to RICS.

Simon Rubinsohn,  RICS Chief Economist  said:

“There are a number of themes running through the comments of respondents this month but uncertainty relating to Brexit negotiations is at the very top of the list followed by references to the confidential remarks made by the Bank of England Governor to the cabinet. All of this is not surprisingly taking its toll on the sales market with the key activity indicator in the survey flat or slightly negative in all parts of the country apart from Northern Ireland and Wales.

“That said, the recent announcement from the Prime Minister that the Housing Revenue Account borrowing cap will be abolished is a bold move which over the time could help address some of the very real challenges facing those looking to buy or rent property. There is no silver bullet that will immediately resolve this problem but encouraging new entrants to deliver affordable homes is certainly part of the answer.”

Read the Latest RICS UK Residential Market Survey – September 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

Breaking News

UK House Price Index for February 2026

The latest UK House Price Index for February 2026 shows that:   The average monthly rate of house price growth in February was +0.1%. Average UK house price annual inflation was 1.2% in the 12 months to February 2026. As a result, the average UK house price currently sits at £268,000.   Damien Jefferies, Founder…
Read More →
Breaking News

Ready or Not: How Prepared Are Landlords and Tenants for the Renters’ Rights Act?

44% of landlords and 64% of tenants say they are not confident about what will actually change when the Renters’ Rights Act comes into force. New research from LRG shows that while the Act is widely known about, what it means in practice is still unclear for many people on both sides of the tenancy.…
Read More →
Home and Living

Springtime household checks that could save you serious money

With summer just around the corner, eXp UK has curated a homeowner’s guide to springtime maintenance, outlining the most important checks homeowners should carry out to avoid unnecessary repair bills later in the year, and how much they can expect to spend. There is a long-standing rule of thumb that annual home maintenance costs equate…
Read More →
footfall falls
Breaking News

Comment on inflation rising to 3.3%

Industry reaction to inflation rising to 3.3% Daniel Austin, CEO and co-founder at ASK Partners, said: “Today’s uptick in UK inflation will raise fresh concerns across the property market, which is still waiting for the full economic impact of the Iran conflict to feed through. Households, buyers and developers recognise that current data is unlikely…
Read More →
Breaking News

London remains top marathon city for property values

Mayfair tops table for the world’s most expensive marathon neighbourhood as London remains priciest race city The latest analysis from Enness Global has revealed that London is currently the most expensive property market of any city hosting a World Marathon Major, with Mayfair also ranking as the world’s most expensive marathon neighbourhood for those wanting…
Read More →
Breaking News

HMRC ramps up scrutiny of residential property valuations as it cracks down on inheritance tax avoidance

  Taxman’s requests for help from the Valuation Office Agency with property valuations in IHT returns rises nearly 25% Rise reflects HMRC’s increased efforts to recover revenue from underreported and misvalued estates.   HM Revenue & Customs is increasingly challenging residential property valuations in inheritance tax (IHT) returns, with the number of cases referred to…
Read More →