Property professionals expect uplift in house sales

Property professionals' expectations for an uplift in house sales are at their strongest level since the start of 2022, according to a survey by the Royal Institution of Chartered Surveyors (RICS). While 20% of professionals expect a recovery in home sales over the next three months, 54% anticipate higher house prices in a year's time. The survey also revealed a pick-up in tenant demand and a decline in new rental listings. Economists are predicting a potential cut in the Bank of England base rate, which could soften lending rates and support a housing market recovery. "Although activity across the housing market remained subdued last month, forward-looking aspects did improve slightly. There are some factors emerging now that could support a recovery in the months ahead", said Tarrant Parsons, senior economist at the RICS. 

Daily Mail (10/07/2024)   Evening Standard (10/07/2024)   The Times (10/07/2024)