UK housing market slowdown is bottoming out, RICS says
Buyer demand and agreed sales improved, while RICS said tenant demand and limited supply are pushing UK rents up 44% over the next three months.
- On Thursday, the Royal Institution of Chartered Surveyors reported that Britain's housing market slowdown is leveling off, with the house price balance rising to a five-month high of-28 in August.
- Property website Rightmove recorded a 'back-to-school bounce' in the first week of Sep as buyers returned after summer holiday distractions and exceptionally hot weather disrupted the market.
- In the lettings market, rising tenant demand and constrained supply pushed expectations for rent increases to 44% of professionals over three months, up from 33%, with annual rents expected to rise around 3%.
- RICS Head of Market Research Tarrant Parsons cautioned that any potential recovery "remains fragile," citing uncertainty over future borrowing costs and the October government budget announcement.
- Looking 12 months ahead, a positive net balance of 6% of professionals predict higher sales volumes, pointing to modest confidence gains. However, RICS members expect property prices to fall further over the next three months.
16 Articles
16 Articles
Evening Standard
Housing market gradually finding its footing, say surveyors
The Royal Institution of Chartered Surveyors said any potential recovery ‘remains fragile’.
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UK housing market shows signs of stabilising, RICS surveyors say
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Housing market edges towards stability..!
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