UK housing sales remain subdued according to RICS
July 17, 2018
Latest RICS UK Residential Market Survey published 12th July 2018 headlined ‘UK housing sales remain subdued as rent expectations continue to heat up’.
The RICS survey reveals that: significantly, over the month, newly agreed sales have recorded the sixteenth successive month of continued decline, with 7% more respondents reporting a fall in agreed sales.
The survey states: For the second month in a row, new instructions have risen, with 10% more respondents seeing an increase in the flow of properties being put up for sale. However, with average stocks remaining close to historic lows at 43 it would be too early to suggest that this issue is lessening as an obstacle.
Simon Rubinsohn, RICS Chief Economist said:
“It is hard to see what is going to provide much impetus for activity in the housing market in the near term. Meanwhile the on-going challenges around lifting the delivery pipeline, reflected in last week’s disappointing data on housing starts, is captured in the suspicion in the survey that prices are likely to resume an upward course over the coming year. The challenge is also visible in the response of the private lettings market to change to the tax treatment on investment properties. While it is understandable that the government wanted to provide a lift for first time buyers, this may well come at the cost of higher rents as the appeal of buy to let diminishes.”
Read the latest RICS UK Residential Market Survey 12th July 2018 in full click here.
You May Also Enjoy
Breaking Property News 18/5/26
Daily bite-sized proptech and property news in partnership with Proptech-X. Labour’s flagship social housing provider Vistry flounders For the past 18 months, Labour’s housing strategy has been built around one central promise: accelerate delivery, unlock planning, and hit ambitious housebuilding targets through large-scale partnerships between government, housing associations and major developers. But the…
Read More 
UK’s most affordable locations for first-time buyers
New Lloyds research reveals the most affordable places in the UK for first time -buyers • East Ayrshire tops the list, with average first -time buyer prices below £150,000 • Blackpool, Merthyr Tydfil and Mid and East Antrim also rank among the most affordable • Average first -time buyer age is 32 – but falls…
Read More 
House prices trending into negative territory for just second time in a decade
The latest research by Yopa has revealed that average monthly house price growth across Britain has slipped into negative territory in 2026, marking only the second time this has happened over the last decade. Yopa analysed the average monthly rate of house price growth across Britain, England, Wales and Scotland between 2016 and 2026 so…
Read More 
Homesellers face months of delays
The latest market analysis from House Buyer Bureau has revealed that home sellers in some parts of the country are facing Local Authority search waiting times of more than 90 days, with growing legal bottlenecks increasingly putting transactions at risk before they reach the finish line. House Buyer Bureau analysed the latest Local Authority…
Read More
Breaking Property News 14/5/26
Daily bite-sized proptech and property news in partnership with Proptech-X. The art of getting noticed as a recruiter in a world noisy with AI Why personal branding, humour and sharp messaging cuts through all – meet Daniel Fisher MREC Cert RP As a two times editor, journalist, author, analyst and consultant I get to…
Read More 
What tenants really want from a HMO in 2026
By Allison Thompson, Chief Lettings Officer, Leaders part of LRG Houses in Multiple Occupation (HMOs), also referred to as multi-lets or room rentals, have come a long way in the past couple of decades. Once thought of as very much at the bottom of the accommodation pile, with a reputation for being sub-standard, many…
Read More