Activity to remain muted in the coming year

Wednesday, 22 December 2010 03:54

The housing market is expected to remain subdued in 2011, with low activity levels and little price growth or deflation, according to the annual forecast from the Royal Institute of Chartered Surveyors.

Sales volumes in 2011 are expected to remain around the 900,000 mark recorded in 2010, mainly due to the problems with mortgage financing. The high deposits required are unlikely to turn out to be a temporary phenomenon, the report adds.

On a regional basis, London and the South East are likely to outperform the rest of the UK once again, with the North West and Northern Ireland lagging behind.

The main problem is likely to be rising public sector unemployment, which is likely to cause price falls in the areas that are heavily dependent on the state for jobs.

Those living in the top quarter of homes by value should fare the best, as the RICS predicts that this prime market is likely to be protected against significant price drops next year.
 

January sellers struggle as housing supply rises

Brits looking to sell their home last month faced an uphill struggle as the extended cold snap put off many buyers, according to the latest Property Activity Index from Agency Express, which shows that that total sales fell by 4.7 per cent compared to December.

House sales hold firm in December, says RICS

Despite the snowy weather last month, housing sales have increased on a quarterly basis, according to the latest survey from the Royal Institute of Chartered Surveyors, which shows the number of sales completed per surveyor rising from 14.8 to 15.2.

Increase in UK housing market activity

Activity in the housing market perked up last month, with a rise in both sales levels and property demand, research from the Royal Institution of Chartered Surveyors suggests. Demand was strongest in the North West and South East.

CML points to muted market activity in 2011

The housing market will remain subdued next year, with transaction levels falling back to where they stood in 2009, according to the 2011 annual forecast from the Council for Mortgage Lenders.

Housing supply and demand falls in January, says RICS

Last month was particularly sluggish for the property market, with fewer sellers listing their houses for sale and fewer new buyers entering the market, according to the latest UK Housing Market Survey from the Royal Institution of Chartered Surveyors.

 

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