Surveyors Report Short-Term Decline in Housing Market in Amid Continuing Political Uncertainty
Respondents to the December UK Residential Market Survey have reported a short-term decline in demand from buyers, a reduction in stock from estate agents, and a fall in house prices. The survey, undertaken by the Royal Institution of Chartered Surveyors (RICS), offers an insight into the thoughts of industry experts on the state of the UK housing market.
This slowing of the market, however, is anticipated to be short-term. Expectations for demand and housing stock for the next 12 months are positive for the first time in almost a year. House prices are also expected to stabilise nationally over the next 12 months, with areas outside London and the South East even seeing a return to growth.