<p><span>The housing market has shown a rebound but, with government measures being phased out later this year, this momentum is likely to be “short lived,” according to the latest residential survey from the Royal Institution of Chartered Surveyors (RICS). </span><span></span></p> <p><span>Reporting on its UK Residential Survey for July, RICS said anecdotal responses suggested the recently announced stamp duty holiday was playing a “significant role” in increasing demand. </span></p><p><span>A net balance of 75% of survey respondents noted an increase in buyers during the month, with a net balance of 59% of participants seeing a rise in new instructions against a 41% reading in June. The survey also revealed a net balance of 57% of respondents reporting a rise in sales during July, indicating a strong revival in transaction levels across the UK following the swift declines seen earlier in the year, RICS said. </span></p> <p><span>But while a net balance of 26% of survey contributors expect sales growth to continue over the next three months, a negative balance of -10% foresee sales declining over the year ahead, “with concerns about the prospects for the UK economy and the impact this will have on employment as the furlough scheme expires in October”. </span><span></span></p> …