LATEST HOUSING SURVEY REVEALS THE CURRENT STATE OF THE HOUSING MARKET

  • The latest residential housing survey from the Royal Institute of Chartered Surveyors (RICS) reveals that house price growth in London continued to slowdown in June, Business Insider UK, reports.

    RICS UK Residential Market Survey made the following findings:

    • A prediction that price rises fell to +7% in June, down from +17%in May
    • A growth in price, but at a slower rate than previously thought
    • According to 44% of respondents, the current state of the market is hugely affected by domestic political uncertainty
    • 27% of respondents blame Brexit for the state of the housing market
    • A decline in newly-agreed sales to -5%
    • Net balance of new instructions to sell houses fell to -19%
    • London records the most negative net balance with big price declines of -45%

    RICS Chief Economist, Simon Rubinsohn, said:

    "The latest results demonstrate the danger, however tempting, of talking about a single housing market across the country. RICS indicators... 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."

    What do you think?

    Please tweet comments @suppsolutions.

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