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Slow down in housing market decline
Many in the housing market may feel that the green shoots of recovery are some way off but in a recent article on the Royal Institute of Chartered Surveyors’ website the outlook appears better than last month.
The article reports that the average number of transactions per surveyor fell further in June however the RICS house price balance improved slightly for the second consecutive month.
According to the RICS figures 88% more Chartered Surveyors reported a fall than a rise in house prices, a decrease from 92.2% in April.
The lack of liquidity in the mortgage market is highlighted as a reason for the collapse in transactions.
The report also shows that Surveyors feel that some buy-to-let investors are entering the market to take advantage of rising rents and equally that 'predatory buyers' are looking to bargain for reductions in a falling market.
