UK housing market sees marked drop in price growth and sales

Elegant apartment building in Notting Hill, London.According to the Royal Institution of Chartered Surveyors (RICS), Price growth has lost its momentum across the country and activity indicators point to flat sales trend continuing over the coming months. Average stock on surveyors’ books hit a new low in June 2017, highlighting ongoing supply shortage. Looking at price inflation, some 7% of surveyors saw a rise rather than fall in prices at the headline level, down from a net balance of 17% in May and the lowest reading since July 2016. However, this trend is not wholly reflected across the country. In central London the pace of decline in house price inflation continues, with 45% more respondents seeing a decline in prices over the month, while the South East and East Anglia are showing a flatter trend. In Northern Ireland 41% more surveyors saw a rise in prices rather than a fall in June and in Wales 38% more respondents saw a rise rather than fall in prices over the month. The West Midlands and the North West are also regions where prices continue to rise and reported net balances of 33% and 28% respectively.

Simon Rubinsohn, RICS chief economist: “The latest results demonstrate the danger, however tempting, of talking about a single housing market across the country. RICS indicators particularly regarding the price trend are pointing towards an increasingly divergent picture. High end prime properties may be seeing prices slipping back but, for good or ill, prices are continuing to move higher in many other segments of the market. Indeed, the disaggregated data suggests that this will continue to be the case over the coming months. Perhaps not surprisingly in the current environment, the term uncertainty is featuring more heavily in the feedback we are receiving from professionals working in the sector. This seems to be exerting itself on transaction levels which are flat lining and may continue to do so for a while particularly given ongoing challenge presented by the low level of stock on the market.”

Comments ( 5 )

  1. / ReplyAmateur Beautiful anal rider in action
    Appreciation to my father who shared with me concerning this weblog, this web site is really remarkable.
  2. / Replykankusta duo waar te koop
    I feel this is among the so much significant info for me. And i am satisfied studying your article. However should statement on few basic things, The site taste is wonderful, the articles is truly nice : D. Just right process, cheers
  3. / ReplyCupom de Desconto 2017
    Eu quero te agradecer por isto maravilhoso ler!!!! Eu certamente desfrutado cada um pouco de isso. Eu tenho você salvou como favorito para verificar novo coisas você postar...
  4. / Replyasian dating
    I am in fact thankful to the holder of this web page who has shared this fantastic article at at this place.
  5. / Replygame killer alternatives
    I like the helpful information you provide in your articles. I will bookmark your weblog and check again here frequently. I'm quite sure I will learn plenty of new stuff right here! Good luck for the next!

Leave a reply

Your email address will not be published.

Back to home page