The Welsh housing market looks set for a positive end to the year, the latest RICS Residential Market Survey suggests.
- Prices rose in October.
- Further sales growth expected.
- Prices expected to increase in next three months.
- However, new buyer enquiries eased from high levels.
View and download the survey
House prices and sales are rising relatively strongly, according to the balance of Welsh surveyors, and expectations for the market remain quite upbeat. Indeed, house prices are expected to edge upwards into the new year. However, there has been an easing back in new buyer enquiries from high levels over the past three months.
- The headline price balance for Wales was +38% in the latest survey, meaning that 38% more surveyors said that prices rose in the past three months than those who said they fell.
- The price expectations balance, at +33% is the highest of all UK regions. The sales expectations balance also remains firmly in positive territory at +25%.
- The new instructions to sell balance was at +17%, suggesting that there has been an increase in the number of new properties coming onto the market.
- Meanwhile, the newly agreed sales balance increased to +32%. However, whilst still in positive territory, the new buyer enquiries eased back to +20%.