Uncertainty continues to stifle the UK housing market

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Thursday, Jul 13 2017

Uncertainty continues to stifle the UK housing market

House price inflation dropped further in June, according to the latest RICS UK Residential Market Survey. At the same time there's little encouragement for sales activity with agreed sales declining alongside new buyer enquiries and new instructions. This trend is also being reflected in medium term sales expectations where the twelve month indicator, while still positive, has slipped to its lowest level since the immediate aftermath of the referendum [net balance of +12%].

Looking at price inflation, in June, 7% of surveyors across the UK saw a rise rather than fall in prices at the headline level. This has slipped from a net balance of +17% in May, and is the lowest reading since July 2016. However, this trend is not wholly reflected across the country.

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