UK Housing market saw a stable trend in new instructions in May according to RICS

Written by Allen Walkey on - Breaking News -

Latest RICS Residential Market Survey report for May 2018 headlines ‘Residential sales flat in May.’

The survey has shown a few signs of life as houses start to come back on to the market, but overall activity has remained flat and is looking unlikely to gain any impetus in the near term.

The report reveals that the number of homes coming on to the housing market turns positive for the first time since 2016, the UK housing market saw a stable trend in new instructions in May, with the headline indicator turning positive for the first time in more than two years (27 months).

Buyer demand continues to decline at a headline level but to a lesser extent than at the start of 2018, however the regional picture is still incredibly mixed according to RICS.

Simon Rubinshn RICS Chief Economist said:

“Although agents are suggesting that a little more supply may have come onto the market in May, some of it from the Buy to Let sector, inventory levels still remain near historic lows. Indeed, with the run rate on appraisals continuing to track below the numbers of a year ago it is premature to conclude that a sustained upturn in available stock is imminent.

“Against this backdrop, it is likely that the headline picture regarding activity in the housing market will remain subdued for some months to come. This is reflected in the feedback to the latest survey which shows sales expectations only marginally positive on a one-year view.”

Read the latest RICS Residential Market Survey report for May 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.

Estate Agent Web Site Design special offer combined with Mailsign Branded emails just £499 for interactive bespoke design.

Full Details of Web design Service 


Recent Popular Articles

Homes in UK smallest in Europe

An interesting article in the Guardian this morning, headlined 'Rise in sale of smaller beds and sofas down to space saving, says experts' They highlight

Victorstone are Braving the Shave: Please help by donating to this great cause

To everyone associated with Technicweb and anyone who has ever been affected by Cancer please take 5 minutes to read about this great cause. One

Nigel is the best name for quick home sales in Liverpool?

Interesting read from Lilly Edwards who shared an editorial on website looking at the best names for selling homes in Liverpool. Nigel, Mike or

Mixed performance for Countrywide.

Yesterday saw the release of Countrywide PLC preliminary statement of annual results for the year ended 31 December 2015. They reported a mixed performance in

Private Rental Prices increase most in South East.

Released yesterday 28th July by The Office for National Statistics 'Index of private housing rental prices (IPHRP) in Great Britain. Results: June 2016. An experimental