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
Autumn Budget doesn’t dampen commercial property outlook for 2026
Demand in both leasing and investment remained in largely positive territory, despite Budget uncertainty Industrial sector continued to lead the way with demand to lease up 11% year on year and demand to invest up 12% 2026 outlook shows positive signs alongside predicted interest rate cuts Demand in terms of both leasing and investment for commercial…
Read More 
Stabilising house prices and falling mortgage rates offer renewed hope for first-time buyers
Propertymark says forecasts of modest house price growth in 2026, alongside falling mortgage rates, point towards a housing market that is beginning to stabilise, offering renewed hope for first-time buyers, while wider affordability challenges remain. As lenders continue to reduce mortgage rates following improved market conditions, monthly repayments are becoming more manageable for aspiring homeowners.…
Read More 
Inheritance tax receipts rise as government performs partial U-turn on relief rules
Inheritance tax (IHT) receipts reached £6.6 billion in the first nine months of the 2025/26 tax year, according to data released by HM Revenue & Customs (HMRC) this morning. That figure is £200 million higher than the same period last year and continues a steady upward trend that has persisted for more than two decades.…
Read More 
Breaking Property News 22/1/26
Daily bite-sized proptech and property news in partnership with Proptech-X. Why are most proptechs Unsaleable? Structural issues rooted in how proptechs are conceived, built, and taken to market stops an exit or IPO (Thought Leadership by Andrew Stanton CEO Proptech-PR) The proptech sector has matured rapidly over the past decade. Capital has flowed in, incumbents have launched…
Read More 
Nationwide extends six times lending to home movers and remortgage
Nationwide enhances support for people looking to move up the property ladder or get a new mortgage deal Five-fold increase in Nationwide loans to first-time buyers at or above 5.5x income in 2025, compared to 2024 Increased first-time buyer support follows regulatory changes to improve affordability Nationwide is today announcing a major boost to the…
Read More
Breaking Property News – 21/1/2026
Daily bite-sized proptech and property news in partnership with Proptech-X. Jon Cooke steps down as Non-Executive Director at GPEA Jon Cooke will continue to focus on innovation within the property sector Jon Cooke has stepped down from his role as Non-Executive Director at GPEA, the business that owned Fine & Country and The Guild…
Read More