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

Housing market struggles in June – RICS

Written by:
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

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.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

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.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

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...

Money Tips of the Week

  • RT @Defaqto: Will your home insurance leave you out in the cold? 🤔 Only a fifth of home contents insurance policies, and a quarter of home…
  • Will your home insurance leave you out in the cold? 🤔 Only a fifth of home contents insurance policies, and a quar…
  • 10 reasons to get your #TaxReturn done now - and they could all mean more money for you! 💷 Questions about your ta…

Read previous post:
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...