RICS sees new instructions edge up as Demand stabilises

RICS Survey sees a fall in stock

"Demand Stabilises" says RICS Survey

RICS, the Royal Institute of Chartered Surevyors, has released its monthly survey results. Key points from the survey is:

  • Headline Price Balance* improves – yet remains nagative
  • New instructions rise and new enquiries stablise
  • London bucks the trend by reporting rising prices

The headline net price balance (Proportion of surveyors reporting a rise in prices minus those reporting a fall) continued to improve, but still indicates falling prices overall, with 31% of surveyors seeing a fall in prices against 11% seeing a rise. That being said 56% of surveyors have seen house prices remain static.

Those surevyors who did see price falls, reported only small downward pressure with between 0-2% reduction.

“Although negative, the headline net price balance has now improved for four months in succession and stands at its best level since July last year,” Rics said.

Not suprisingly London bucked the trend across the UK by reporting a positive price balance, i.e. more surevyors reported a rise in prices than reported a fall in prices.

For new buyer enquiries London and Scotland led the way with strong healthy postive balances, as opposed to the East Midlands and North West that saw fairly large negative balances of new buyers.

For more information read the full report: http://www.rics.org/site/download_feed.aspx?fileID=8970&fileExtension=PDF

Do you want to know what 2011 has in store? Download the Just Do Property 2011 Property Market Predictions eBook: /ebooks/expert-predictions-2011-property-2-3835

*Balance = Proportion of surveyors reporting a rise in prices minus those reporting a fall (if 30% reported a rise and 5% reported a fall, the unadjusted balance will be 25%)

Written by Julie Hanson

Julie is passionate about property – development, investment and portfolio planning. Along with husband Alec, Julie is actively building a property portfolio while helping others to do the same.

Property deals in your inbox

Get access to exclusive property investment deals

LEGAL INFORMATION

This site is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com. We are compensated for referring traffic and business to Amazon and other companies linked to on this site. We may also do this with other affiliate schemes.

Light up a north facing room
Light up a north facing room

You May Also Like…

Change Pricing Plan

We recommend you check the details of Pricing Plans before changing. Click Here



£2030 daysPay Per Listing0 regular & 0 featured listings



£4030 daysPay Per Listing0 regular & 0 featured listings



£12030 daysPay Per Listing0 regular & 0 featured listings



£25030 daysPay Per Listing0 regular & 0 featured listings



£2500365 daysPay Per Listing1 regular & 1 featured listings



£600365 daysPay Per Listing0 regular & 0 featured listings



£220365 daysPay Per Listing0 regular & 0 featured listings



£110365 daysPay Per Listing0 regular & 0 featured listings



£1200365 daysPay Per ListingUnlimited regular & Unlimited featured listings



£440360 daysPay Per ListingUnlimited regular & Unlimited featured listings



£220365 daysPay Per ListingUnlimited regular & Unlimited featured listings



£Unlimited daysPay Per Listing1 regular & 0 featured listings