RICS Housing Market Survey

Citation

(2010), "RICS Housing Market Survey", Structural Survey, Vol. 28 No. 2. https://doi.org/10.1108/ss.2010.11028bab.003

RICS Housing Market Survey

Article Type: Newsbriefs From: Structural Survey, Volume 28, Issue 2

Keywords: Homes, Prices, United Kingdom

The RICS Housing Market Survey for January 2010 reported that the severe weather conditions in the UK have put a freeze on activity but that prices continue to rise. The net price balance increased to +32 per cent. The new buyer enquiries, new instructions and agreed sales net balances turned negative due the weather. Surveyors remain optimistic about the short term outlook for both prices and activity. The survey showed an increasing number of surveyors seeing price rises rather than falls. The seasonally adjusted net balance of surveyors reporting rising rather than falling prices rose to 32 per cent in January from 30 per cent and is now only slightly below November’s recent high of 35 per cent. However, buying and selling fell during the month; respondents to the survey attributed this to the extreme weather conditions experienced in the early January. The new buyer enquiries net balance fell to −20 per cent (from +18 per cent), the agreed sales net balance fell to −15 per cent (from +19 per cent) and the new instruction net balance fell to −5 per cent (from +15 per cent).