Marked differences in trends across the country according to RICS

Released today the RICS UK Residential Market Survey – November 2017 headlines ‘Activity remains subdued in UK housing market, with little improvement anticipated.’

The report reveals that: Respondents to the November 2017 UK Residential Market Survey suggest activity will continue to be impacted by the continued shortage of new instructions, alongside general economic uncertainty.

Simon Rubinsohn RICS Chief Economist said:

“It is perhaps not surprising that the headline indicators for both prices and activity are subdued as Christmas approaches. But once again the feedback we are receiving from respondents points to quite marked differences in trends across the country. It is clear from the results than the mood music in London and the South East is very much flatter than elsewhere and interestingly, the forward looking indicators suggest this is likely to persist into the new year.

“It remains to be seen whether the scrapping of stamp duty for first time buyers announced in the Budget will provide much of a lift for the market. There was not much evidence of this in the latest survey, which was conducted after the change in policy, and while most independent analysis casts doubt on whether there will be much follow through, it is still early days. However, if the move does trigger a wider debate about how best to tax property, it will serve a useful role.”

Read the RICS UK Residential Market Survey – November 2017 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

Bank of England Money and Credit Report – March 2025

These monthly statistics on the amount of, and interest rates on, borrowing and deposits by households and businesses are used by the Bank’s policy committees to understand economic trends and developments in the UK banking system. Key points: Net borrowing of mortgage debt by individuals increased sharply by £9.7 billion to £13.0 billion in March,…
Read More
Estate Agent Talk

Selling fast! Spruce up your home ahead of double Bank Holiday viewing rush

Average property takes 145 days to go under offer, but some get snapped up in as few as 13 days Property expert shares top tips to get your property sell-ready in hours ahead of May Bank Holiday showings Spring is house-moving time for many Brits and the double Bank Holidays in May are peak time…
Read More
Estate Agent Talk

What Manchester Homebuyers Should Know, According to Conveyancers

Buying a home in Manchester can be one of the most exciting and significant decisions in your life—but it’s also one of the most complex. Whether you’re a first-time buyer or moving up the property ladder, navigating the legal and administrative side of a home purchase can be daunting. That’s where conveyancers come in. These…
Read More
Breaking News

Housing sector ranks second for customer complaints

New research from Ventrica has revealed the revenue benefits for brands that invest in providing emotive customer experiences (CX) that consumers want. The company surveyed over 2,000 UK consumers and found that over the last 12 months, only 4 per cent of positive experiences were delivered by AI and only 18 per cent were a…
Read More
Rightmove logo
Breaking News

Rightmove’s weekly mortgage tracker – 30/04/25

Rightmove’s mortgage expert Matt Smith says: “Average rates have continued to slowly come down over the last week, while the cheapest available fixed mortgage rate is a 2-year fixed rate at 3.79% for those with the largest deposits. I think lenders are now biding their time until the 8th May Bank Rate decision, and will…
Read More
sold purplebricks
Breaking News

Latest HMRC UK Property Transactions Report

Headline statistics from the latest transactions data include: The provisional seasonally adjusted estimate of the number of UK residential transactions in March 2025 is 177,370, 104% higher than March 2024 and 62% higher than February 2025 The provisional non-seasonally adjusted estimate of the number of UK residential transactions in March 2025 is 164,650, 89% higher…
Read More