Housing market sprint finish, predicts surveyors
The UK housing market will see a strong end to the year, according to the latest survey by the Royal Institution of Chartered Surveyors (RICS).
26 per cent more respondents predicted property transactions will grow in October, November and December and, in fact, chartered surveyors’ expectations are now at their highest level since May 2010.
This positivity has been spurred on by greater mortgage availability and predictions that house prices will continue to slowly fall in the coming months.
Peter King is the RICS Global Residential Director:
“The housing market was relatively flat during September but surveyors are optimistic that the run to Christmas could see an increase in activity in many areas of the country. Prices are still dipping but at a much lower rate than seen in previous months.
“Despite this, problems still exist and more needs to be done to get the market moving. Unrealistic expectations on the part of the vendors seem to be stalling the transaction process. Meanwhile, although the funding for lending scheme appears to be improving mortgage availability, those at the very bottom of the housing ladder are still struggling.”
Content correct at time of publication