Friday 9 December 2016

Britain's Sluggish Housing Market Remains Starved Of Meeting New Supply

Housing Market

Britain's housing market remains sluggish with a record low level of homes for sale as buyers and sellers alike are put off by stamp duty and uncertainty caused by the EU referendum.

The Royal Institution of Chartered Surveyors (Rics) reported that there was a small increase in the number of buyer inquiries in November, but the supply of homes on the market remained flat. It is the ninth consecutive month with no increase in the amount of new properties for sale.

The closely watched Rics residential market survey, which polls surveyors across the country, found that a net balance of 14pc expect house prices to increase over the next three months. In the next 12 months, a net balance of 40pc expect house prices to rise across the country, except in London, where the long-term outlook is much weaker.



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