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Region’s housing market will ‘remain subdued’, say surveyors

PUBLISHED: 09:26 09 November 2017 | UPDATED: 09:26 09 November 2017

The East of England housing market remained subdued in October, says RICS. Photo credit: Andrew Matthews/PA Wire.

The East of England housing market remained subdued in October, says RICS. Photo credit: Andrew Matthews/PA Wire.

The East of England housing market remained slow in October, with demand and prices flat, according to research.

The RICS UK residential market survey for October also showed a flat or negative trend in agreed sales and predicted momentum in the market was likely to remain subdued in the near term.

Interest from buyers in the East in the month broke a 10-month run of negative readings, with 4% more survey respondents seeing a rise in new buyer enquiries.

There was also a slight increase in new listings coming to the market in October, after deterioration in the first half of the year.

However, 17% more respondents in the region saw a decline in transactions over the month.

Going forward people in the East were more optimistic, with 17% more respondents predicting an increase in sales over the next three months and the 12-month view showing a similar outlook.

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