RICS housing market survey reports some positive signs in the East – but warns of continued impact from uncertainty

RICS has released its residential market survey for November.
Picture: ANTONY KELLY

RICS has released its residential market survey for November. Picture: ANTONY KELLY - Credit: Archant

Property agents have reported signs of a rebound in consumer interest in the housing market in the East of England.

But the RICS residential market survey for November also suggested activity will continue to be impacted by general economic and political uncertainty in 2018.

The market decline in new buyer enquiries in late summer and early autumn appears to have levelled off in the past two months, with fewer respondents noting a decline in demand, RICS said.

However, the price balance for the market in the East dropped to -19% in the month, after an eight-month consecutive run of broadly flat reported prices. Three-month price expectations for the region are also more or less flat.

Nigel Steele, from Jackson-Stops in Norfolk, said: 'Despite gloomy predictions we are experiencing a very busy market with more valuations, instructions and sales being agreed. Buyers are keen to proceed and are not deterred by Brexit.'


You may also want to watch:


Become a Supporter

This newspaper has been a central part of community life for many years. Our industry faces testing times, which is why we're asking for your support. Every contribution will help us continue to produce local journalism that makes a measurable difference to our community.

Become a Supporter
Comments powered by Disqus