RICS Housing Market Survey
July 2010
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- Page 1 of 8
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Prices fall for the first time since July 2009
- Supply increases but demand falls
- Price expectations deteriorate further, though the outlook for sales remains positive
- Only London and the North West are still seeing material price rises
The July RICS Housing Market Survey shows more surveyors are now seeing falling rather than rising prices, with the headline price balance slipping from +8 to -8, the first negative reading since July 2009.
The weaker trend in prices is being driven by increasing new vendor instructions (supply) and falling new buyer enquiries (demand). Indeed, the new instructions balance increased from +28 to +33, the highest reading since May 2007. Anecdotal evidence from surveyors suggests the rise in new instructions is primarily related to homeowners testing the market following the abolishment of HIPs in late May, rather than due to distressed selling.
Pages in RICS Housing Market Survey
- 1. You are here July 2010
- 2. June 2010
- 3. May 2010
- 4. April 2010
- 5. March 2010
- 6. February 2010
- 7. January 2010
- 8. Contribute to the Housing Market Survey
