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Research suggests that the UK housing market faced a stalemate situation in June, with demand for property failing to pick up as supply fell back.
According to the latest Housing Market survey from the Royal Institution of Chartered Surveyors (Rics), demand showed little change last month, continuing the “broadly flat” trend that has characterised the past six months.
The study noted that, because access to the market is still restricted, the only ‘serious’ buyers are those who have already sold their existing property or have a mortgage agreement set up.
Alan Collett, Rics housing spokesperson, commented: “The housing market was pretty flat during June. Buyer interest in purchasing property remains relatively low across much of the UK and the volume of new stock coming to the market has slackened.”
He added that with continued uncertainty over jobs and the economy, the subdued outlook was likely to remain for some time.
Earlier this month, however, the second-quarter Rics Commercial Market Survey found that the London commercial property market was continuing to paint a more positive picture than the rest of the UK.
Source www.taylorvinters.com/news/report-highlights-stalemate-uk-housing-market/4123