UK housing market continues to be weak at start of 2018 according to RICS
The latest RICS UK Residential Market Survey – January 2018 released today reveals that the UK housing market has started the new year off in a similar fashion to the closing stages of 2017.
Enquiries, sales and instructions remain negative according to the survey, the picture across the country shows prices have edged higher at the national level but continue to decline in some parts of the country.
Simon Rubinsohn, RICS Chief Economist said:
“The latest RICS results point to housing transactions at a headline remaining pretty subdued over the coming months despite some more positive comments from contributors to the survey. Lack of inventory on agents’ books continues to provide a major challenge with the number of valuations being undertaken not suggestive of a pick-up in new supply anytime soon.
“Divergent regional trends remain very much to the fore with the market in many parts of the country still actually behaving in a solid if unspectacular way despite the downbeat headlines. Affordability issues continue to play a key role in explaining this pattern with those areas where house price earnings are most stretched seeing the softest markets.”
Read the latest RICS UK Residential Market Survey – January 2018 released 8th February 2018 in full click here.
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