Sales trends are stabilising across London according to RICS

RICS Residential Market Survey report – August 2018 published 13th September 2018 headlines ‘Solid housing market in Scotland and Northern Ireland’.

The RICS report reveals that regionally, after a sharp fall in activity at the end of last year, current sales trends are stabilising in London. Momentum is still slipping across East Anglia and the wider South East, however sales in August were solid across Northern Ireland, Scotland and the South West.

Simon Rubinsohn, RICS Chief Economist said:

“While a combination of a lack of stock and some level of uncertainty, both relating to the interest rate outlook and Brexit, has had an impact on activity, the overall picture in these areas is still encouraging. The story in London and the South East is, as has been widely recognised, rather more challenging but it is important that this is not seen as being indicative of the wider market.”

Read the RICS Residential Market Survey – August 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

Software & Tech

The Evolving Nature of Real Estate and Strategies for Agency Success

Real estate agents are used to working with fluid market dynamics. Adapting their sales strategies and responding to new industry demands is almost second nature to most agencies today. However, while making the necessary adjustments when following housing market trends is important, it’s also important for agencies to consider new business innovations that become available…
Read More
US Flag
Overseas Property

Montana Real Estate: A Comprehensive Guide for Buyers and Investors

Montana’s stunning landscapes, abundant wildlife, and peaceful lifestyle have long attracted nature lovers, adventurers, and those seeking respite from the hustle and bustle of city life. In recent years, the state has also become an attractive destination for real estate buyers and investors. From the vast open plains and rugged mountain ranges to bustling cities…
Read More
Home and Living

Top 5 pitfalls to avoid when remortgaging your home

Remortgaging your home is more or less the same process as getting the mortgage when you first bought the property; however, it’s important to bear in mind that your circumstances may have changed. For example, you may have moved job – or even become self-employed, or had a family, and both can impact what you…
Read More
Love or Hate Rightmove
Breaking News

Rightmove’s weekly mortgage tracker 13/11/24

The current average asking price of a typical first-time buyer property is £227,570. For someone taking out an average five-year fixed, 85% LTV mortgage, the average monthly mortgage repayment on this type of home is now £1,087 per month if repaying over 25 years, compared with £1,187 per month a year ago (when the average first-time buyer property asking price was…
Read More
Love or Hate Rightmove
Breaking News

Renters seek fixer-uppers, with over £40,000 cheaper price tag

A consumer survey from Rightmove of over 34,000 home-movers has revealed that 68% of renters are eager to take on fixer-uppers to help get on the housing ladder, compared to 54% of home-owners A study of available fixer-upper properties on Rightmove reveals that homes in need of renovation are 12%, or £44,634 cheaper than the…
Read More
Breaking News

Breaking Property News 11/11/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Navigating new legislation in the Lettings sector Paul Starkey, technology and property industry veteran and also advisor for Symple, gives his take on how to better monetise lettings operations. ‘During a housing crisis, the last thing the UK needs is a subsequent catastrophe in…
Read More