Housing market stagnates

12th May 2017

Uncertainty over the general election, changes to property taxes over the past three years and lack of stock is causing the housing market to “stagnate”, according to Rics. In a survey of more than 600 estate agency branches, it found the average number of homes on estate agents' books was close to record lows in April. A net balance of 4% of surveyors reporting a fall in new inquiries, while 9% recorded a drop in sales. However, 22% more surveyors reported a rise in house prices than those reporting a fall. In the northwest, 67% more surveyors reported higher prices. In areas such as London and East Anglia, however, "price growth has eased considerably".

Financial Times (10/05/2017)