RICS UK RESIDENTIAL MARKET SURVEY, SEPTEMBER 2018
The latest release from the RICS:
Demand from new buyers nationally has weakened slightly for the second successive month, making the forward-looking sales indicators also turn a little more pessimistic according to the September 2018 RICS UK Residential Market Survey. Respondents to the survey continue to cite the mixture of affordability constraints, a lack of stock, economic uncertainty and interest rate rises to be holding back activity to a certain degree.
While the main indices continue to report price growth, surveyors’ perceptions of price growth weakened in August, with almost as many seeing falls as rises, according to the RICS survey. There were also fewer surveyors reporting growth in volumes of enquires and instructions.
Surveyors had been reporting rising numbers of both over recent months, although transaction volumes have continued to slowly decline. This shift in opinion has put demand (enquiries) ahead of supply (instructions) for the first time since mid-2017, which may have supported recent price growth.← Back to insights