UK Property Surveyors: Gloomy Outlook
The UK property market has been in a state of flux for the past few years, and the outlook for the future is looking increasingly gloomy. According to a survey of property surveyors conducted by the Royal Institution of Chartered Surveyors (RICS), buyer demand has been declining since the start of the year.
Declining Buyer Demand
The survey found that buyer demand had fallen for the fourth consecutive month in August, with the number of new buyer enquiries dropping to its lowest level since April 2016. The survey also found that the number of new instructions from sellers had also fallen for the fourth consecutive month.
The survey also revealed that the number of sales agreed had fallen for the third consecutive month, with the number of sales agreed in August being the lowest since April 2016. The survey also found that the number of properties on the market had fallen for the fourth consecutive month, with the number of properties on the market in August being the lowest since April 2016.
Rising Prices
Despite the decline in buyer demand, the survey found that house prices had continued to rise. The survey found that house prices had risen for the sixth consecutive month in August, with the average house price in the UK increasing by 0.7% compared to the previous month.
The survey also found that the number of properties sold in August had increased by 1.2% compared to the previous month. This was the first time in four months that the number of properties sold had increased.
Uncertain Outlook
The survey also found that the outlook for the UK property market was uncertain. The survey found that the number of surveyors expecting house prices to rise over the next three months had fallen for the fourth consecutive month, with the number of surveyors expecting house prices to rise in the next three months being the lowest since April 2016.
The survey also found that the number of surveyors expecting the number of sales to increase over the next three months had fallen for the fourth consecutive month, with the number of surveyors expecting the number of sales to increase in the next three months being the lowest since April 2016.
Brexit Impact
The survey also found that the uncertainty surrounding Brexit was having an impact on the UK property market. The survey found that the number of surveyors expecting the number of sales to increase over the next three months had fallen for the fourth consecutive month, with the number of surveyors expecting the number of sales to increase in the next three months being the lowest since April 2016.
The survey also found that the number of surveyors expecting the number of new instructions from sellers to increase over the next three months had fallen for the fourth consecutive month, with the number of surveyors expecting the number of new instructions from sellers to increase in the next three months being the lowest since April 2016.
Stagnant Market
The survey also found that the UK property market was stagnating. The survey found that the number of surveyors expecting the number of sales to increase over the next three months had fallen for the fourth consecutive month, with the number of surveyors expecting the number of sales to increase in the next three months being the lowest since April 2016.
The survey also found that the number of surveyors expecting the number of new instructions from sellers to increase over the next three months had fallen for the fourth consecutive month, with the number of surveyors expecting the number of new instructions from sellers to increase in the next three months being the lowest since April 2016.
Impact on Buyers and Sellers
The survey also found that the decline in buyer demand was having an impact on both buyers and sellers. The survey found that the number of surveyors expecting the number of buyers to increase over the next three months had fallen for the fourth consecutive month, with the number of surveyors expecting the number of buyers to increase in the next three months being the lowest since April 2016.
The survey also found that the number of surveyors expecting the number of sellers to increase over the next three months had fallen for the fourth consecutive month, with the number of surveyors expecting the number of sellers to increase in the next three months being the lowest since April 2016.
Outlook for the Future
The survey found that the outlook for the UK property market was uncertain. The survey found that the number of surveyors expecting house prices to rise over the next three months had fallen for the fourth consecutive month, with the number of surveyors expecting house prices to rise in the next three months being the lowest since April 2016.
The survey also found that the number of surveyors expecting the number of sales to increase over the next three months had fallen for the fourth consecutive month, with the number of surveyors expecting the number of sales to increase in the next three months being the lowest since April 2016.
The survey also found that the number of surveyors expecting the number of new instructions from sellers to increase over the next three months had fallen for the fourth consecutive month, with the number of surveyors expecting the number of new instructions from sellers to increase in the next three months being the lowest since April 2016.
Overall, the survey paints a gloomy picture of the UK property market. Buyer demand is declining, house prices are rising, and the outlook for the future is uncertain. This is likely to have a negative impact on both buyers and sellers in the coming months.