Reduced housing activity in June

london-house-slow-downHousing activity has reduced in June in the form of enquiries and properties coming to the mortgage market. Meanwhile 45% more chartered surveyors saw a fall in new instructions, the lowest on record and there was a fall in the supply of available properties all over the UK except Northern Ireland.

Simon Rubinsohn, RICS chief economist, says: “Big events such as elections usually do unsettle markets so it is obvious that the EU referendum has been associated with a dip in activity. However it is likely that the housing numbers would have slowed during the second quarter of the year, following the rush in many parts of the country from buy to let investors to secure purchases ahead of the tax changes in first quarter.”

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