Housing Market May Be 'over The Worst’, Says Surveyors

Posted on: 10 February 2017

The UK housing market is showing signs it may be “over the very worst” of its current slump, according to a monthly survey of chartered surveyors. Green shoots? RICS says surveyors are more optimistic about the housing market A balance of 24pc more surveyors predicted that the number of house sales will increase over the next three months, compared to those expecting transactions to fall. The pick-up sentiment in the survey by trade body RICS came after a “notable” increase in buyer interest in recent months, with signs that this is translating into a higher sales rate. The poll of 280 surveyors also showed that property prices held steady in December, marking the first time since mid-2010 that surveyors did not report that prices edged downwards over the previous three months. Accordingly, the survey showed that for the first time in two and a half years surveyors did not predict further property price drops over the coming three months. “This more positive outlook comes at a time when confidence has been growing that the market in some parts of the country may now be over the very worst,” said RICS.

Good News Britain: Housebuilder Galliford Try reports record sales 09 Jan 2013 The organisation is forecasting that prices will rise by 2pc this coming year. That would mark a turnaround from last year’s housing market performance, when average prices dropped 1pc, according to lender Nationwide. None the less, despite improvements in mortgage availability, market-watchers warn that the ability to finance home purchases remains a major headwind against the market, as lending is still low by historical standards. Peter Bolton King, global residential director at RICS, said: “As we start the new year confidence to the housing market does appear to be improving, helped in part by the impact of the Funding for Leading Scheme. “Indeed, our members are predicting that transaction levels will continue increasing in many parts of the country. “That said, more still needs to be done to ensure potential buyers can access the market at every level.”

Share:


Recent Articles

8 April 2021

Is This The Right Time To Sell Your Home?

There has been a lot of talk about the property market being a seller’s market of late. There is no denying there is considerable demand for property, but also, it seems as though many vendors have been cautious about entering the marketplace. If the end of lockdown, the optimism of...

23 March 2021

Homeownership Dreams Are Alive And Well

If you are keen to buy a home, we are here to help you. At Frank Schippers, we are pleased to say we have assisted many buyers, and it has been a busy time of late. We appreciate that some people believe the housing market will slow down for some time, but there will always be people moving....

15 March 2021

Making The Most Of Space At Home

We all know space is vital at home, and if you can create more space at your property, it is advisable to do so. Whether your focus is on utility or value, there is always a great deal to be said for having more space around your home. Research carried out by an agent comparison site says the...

Request a valuation

Find out how much your property is worth