House prices still rising despite fall in demand, RICS survey says
Tom Bill, head of UK residential research at estate agent Knight Frank, said:"Supply is so low because many people have taken a summer holiday for the first time in two years."He added:"Autumn will provide the acid test for the property market and we expect annual price growth to slow to single digits as supply picks up and demand cools."
For lettings, 36% of property professionals reported an increase in demand and, as new landlord instructions decline, rents are expected to rise sharply. Tarrant Parsons, senior economist at RICS, said:"Amid a backdrop of sharply rising living costs, slowing economic growth and higher interest rates, it is little surprise that housing market activity is now losing some momentum.
"With monetary policy set to be tightened further over the coming months, sales expectations point to a further softening in transaction volumes going forward. "Nevertheless, with respect to house prices, limited supply available is still seen as a crucial factor underpinning the market. Although house price growth is likely to continue to ease, respondents still anticipate prices will be modestly higher than current levels in a year's time."
Danmark Seneste Nyt, Danmark Overskrifter
Similar News:Du kan også læse nyheder, der ligner denne, som vi har indsamlet fra andre nyhedskilder.
Bridgerton spin-off Queen Charlotte filming at Belton House, says mystery writerThe latest gossip from the set
Læs mere »
Gemma Owen’s Family Have Bought This ‘Cursed’ Item From The Love Island Villa For Their HouseGemma Owen’s parents Michael and Louise bought a very interesting Love Island item for their home. Read more on Grazia.
Læs mere »
Car deliberately set on fire outside Renfrew house in late-night attackThe incident happened around 3am on Wednesday, August 3 outside a property on Lang Avenue. A Vauxhall Corsa had accelerant poured over it and set alight. The vehicle was significantly damaged.
Læs mere »
Holiday camp entrepreneur Billy Butlin's old house on the Yorkshire coast for sale for £2.7millionHoliday camp entrepreneur Sir Billy Butlin's old Art Deco home on the Yorkshire coast is for sale for £2.7million
Læs mere »
No prosecutions after Kincaidston house blastA family of four was hurt in the explosion in Ayr in 2021 but no prosecutions will be sought by HSE.
Læs mere »