House sales faltered in last month of last year according to RICS

January 19, 2017

The Royal Institution for Chartered Surveyors (RICS) today released their December 2016 UK Residential Market Survey report headlined ‘Housing activity stutters in December’.

House sales in the UK faltered in December and the RICS predictions for expected new sales over the next three months are pared back. Central London house prices continue to slip back, that is in contrast to other areas of the UK that have seen increases, shortage of properties to let drives rent expectations higher.

Simon Rubinsohn, RICS Chief Economistsaid: “A familiar story relating to supply continues to drive both the sales and lettings markets impacting on activity, prices and rents. The eagerly awaited housing white paper should help to create a more positive framework for new build delivery but with the best will in the world, it is going to take time before the resulting uplift in the development pipeline begins to impact on the opportunities for either homebuyers or tenants.

“Meanwhile, the latest RICS survey provides further evidence that both price and rent pressures are continuing to spread from the more highly valued to more modestly valued parts of the market for good or ill”.

Read the RICS December 2016 UK Residential Market Survey report 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

Demand for qualifications doubles as Rightmove helps agents get ahead of reform

New data reveals a jump in estate and letting agents looking to get qualified, with Rightmove exam bookings more than doubling (+128%) compared to last year Leading property industry body Propertymark has seen a 51% uplift in demand for qualifications since April 2020, highlighting a long-term shift in the industry wanting formal qualifications The insight…
Read More →
Breaking News

Breaking Property News 5/5/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   New AI Real Estate Market Intelligence Platform Launches in the U.S.   Press Release – New York, May 2026 — Rodland Real Estate, a leading independent brokerage headquartered in The Bahamas, has announced the U.S. launch of RoRo, an advanced AI-powered real estate market intelligence…
Read More →
Breaking News

Mortgage affordability at tightest level since 2008

UK Finance has today published a new Lending Where We Live report, revealing sharp differences in mortgage affordability and buy‑to‑let returns across the UK. Key findings 723,000 house purchase mortgages advanced in 2025, up 17 per cent year-on-year Average borrower spends 21.3 per cent of gross income on repayments Significant regional differences: North Norfolk and Hillingdon top the list with borrowers spending over 25 per cent of gross income Seven…
Read More →
Breaking News

Did landlords frontload rent hikes ahead of the RRA?

The latest insight from Inventory Base suggests that, despite the incoming Renters’ Rights Act limiting rent increases to once per year, only around a quarter of landlords appeared to pre-empt the change by front-loading rent rises ahead of the 1st May deadline. This comes amid wider policy uncertainty in the rental sector, with the UK…
Read More →
Rightmove logo
Breaking News

Rightmove to host live Q&A webinar on the Renters’ Rights Act

Rightmove is hosting a live Q&A webinar today to help agents better understand the Renters’ Rights Act and its practical implications as the Act takes effect. The Renters’ Rights Act: Live Q&A webinar will take place on Tuesday 5th May from 10:00am to 11:00am and will be available to watch via the Rightmove Hub. Over…
Read More →
Home and Living

War over bin blunders as legal expert reveals what you can actually do

Rows over rubbish are bubbling up, with fed-up homeowners losing patience over neighbours who refuse to bring their bins back in. Now, a legal expert has revealed the simple steps you can take before things spiral into a full-blown neighbourhood feud. Natalie Peacock of Rogers and Norton explained that while it might be tempting to…
Read More →