The RICS housing market survey for September 2012 has seen a a relatively stable market with a broadly flat picture for prices and transactions.
The RICS housing market survey for September 2012 has seen a relatively stable market with a broadly flat picture for prices and transactions.
Expectations of price falls have also become slightly less widespread and an increase in expectations over sales.
Key Facts:
- National price balance improved, up from -18 to -15, i.e. 15% more surveyors saw a fall in prices, rather than a rise in prices over the last three months
- 65% of respondents saw no change
- 74% of those seeing a price fall did so within the 0% to 2% bracket
- Both instructions and enquiries increased a bit but agreed sales fell slightly
With regards to the outlook, near term sales expectations actually reached their highest level since 2010. However RICS cautions reading too much into this.
Regionally, London continues to buck the trend and saw positive net price balance of +21. The next best performing region was the North with a +1 balance, followed by the South East with a -10 balance.
Worst performing was Yorkshire & Humberside with a -40 price balance, preceded by Norther Ireland with -39
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