RICS data shows demand slowdown

Dec. 10, 2020
<p>Homes sales continued to increase in November but with evidence of a slowdown, and surveyors forecasting a “levelling out” in sales over the next three months, according to the latest RICS residential market survey.</p> <p>The Royal Institution of Chartered Surveyors’ data showed that across the UK in November, a net balance of +27% of surveyors saw an increase in new buyer enquiries. RICS said this was positive but a decrease on the +42% of October. </p> <p>According to the survey, surveyors in the West Midlands, East Midlands and Scotland were now reporting a “flatter trend” in the level of agreed sales, although most UK areas continued to see rises here.</p> <p>A net balance of <span class="A0">-4% of </span>surveyors expected sales to increase during the next three months, down from the <span class="A0">+15% of October. RICS said this suggested a “levelling out” in sales in the near term.</span></p> <p>Looking further ahead to the next 12 months, surveyors’ sales expectations were negative, RICS said, with a net balance of -21% predicting weaker sales volumes in the coming year. RICS explained that some participants had pointed to rising unemployment levels and the end of the stamp duty holiday in March.</p> <p>On house prices …

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