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

Written by Allen Walkey on - Breaking News -

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.

 

 

Author: 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.

Share
 

Recent Popular Articles


Help offered by Banks to Grenfell Tower Victims


The BBA published a news release yesterday headlined  'Banks offer help to Grenfell Tower Victims'. To assist the circulation of this news release we have


Hardsell Marketing in Estate / Letting Agency


Content marketing is the art of communicating with your clients and prospective clients without try to sell anything. The ‘landlord farming idea’ is content marketing


New Homes partnership for Aberdeen


An article appearing on the Scottish Housing News website reported that Places for People  has signed a pioneering partnership with Aberdeen City council  which will


Private tenants struggle to pay rent.


According to a recent article in The Guardian, the charity Shelter say that over half of private tenants are struggling to pay their rent. The


Housing market 2017 follows similar pattern to previous year according to Halifax


Latest Halifax House Price Index report - December 2017 released today headlines '2017 House Price Growth Eased To 2.7%'. Halifax reveals: House prices in the