You are here: Home - Mortgages - Buy To Let - News -

Housing market struggles in June – RICS

0
Written by:
11/07/2012
The housing market continued to stumble in June as interest from potential buyers fell away, according to the latest RICS UK Housing Market survey.

The report says that demand failed to increase while the supply of new properties fell, where 10% of chartered surveyors reported fewer new buyer enquiries than in the previous month.

Overall activity in the market has failed to show improvement since the end of the Stamp Duty exemption period at the end of March. London was the only region to post an increase in house prices but this level of growth has also slowed significantly since the beginning of 2012.

The survey showed 19% of surveyors expect prices to continue to struggle this year but are far more optimistic regarding transaction levels, with 10% more expecting an increase in the number of sales compared with the previous survey.

The study also reports that the number of new homes entering the market fell for a second successive month.

Simon Rubinsohn, chief economist at RICS, commented: “The housing market didn’t manage to turn a corner last month and activity remained in the doldrums.

“Fewer vendors looked to test the market and levels of buyer interest seem to have fallen back since the expiry of the stamp duty deadline earlier in the year.

“Although there is some positivity that the amount of sales going through is going to see an increase, it is unlikely that we will see any real movement until purchasing a property is more affordable and accessible for the likes of first time buyers.”

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
2190693-nationwide-0812-copy
Nationwide reduces fixed mortgage rates

From Wednesday 11 July, Nationwide is reducing the rates on its range of fixed rate mortgages by 0.10%, for loans...

Close