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RICS UK Residential Market Survey November 2016

RICS UK Residential Market Survey November 2016

Sales activity in the UK residential market is increasing, but a slow start to 2017 is expected due to a lack of stock.

The RICS UK Residential Market Survey published on 8 December suggests a slow recovery in housing sales for the start of 2017. It predicts that the sales activity is likely to pick up but at a rather modest pace. The housing market will continue to be impacted by the macro-uncertainty, the ongoing supply shortfall and the most recent tax changes.

RICS UK Residential Market Survey November ’16 Sales main points:

  • Interest from new buyers increases marginally for the third consecutive month
  • Activity moves up but figures are consistent with only modest increase in near-term transactions
  • Supply chain continues to stagnate with no increase in supply for the ninth consecutive month

RICS UK Residential Market Survey November ’16 Lettings main points:

  • Tenant demand rose only marginally, and the new landlord instructions fell slightly.
  • Tenant demand continues to outpace supply across most of the UK areas and rents are expected to continue to rise.
  • However, surveyors in London report a decline in tenant demand and rent expectations in negative territory for the fifth consecutive month.

RICS UK Residential Market Survey November 2016  in full click here.

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