Surveyors predict ‘flat summer’ in housing market

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Movement in the UK housing market is continuing to slow down, with property surveyors foreshadowing a flat summer ahead.

Members of the Royal Institution of Chartered Surveyors (Rics) foretold the number of sales and new instructions both declined in April.

It said drive was continuing to ebb, with the number of enquiries from potential buyers also flatties b lowlands.

One reason it cited was uncertainty over the general election.

Earlier this week the Halifax claimed average house prices had fallen over the last three months — the primary quarterly drop in nearly five years.

However, the Rics scrutiny points to a mixed picture on prices.

It said property values had been move it in central London for more than a year, with no increases in East Anglia or north-east England.

But figures in the north-west are still rising.

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«Although the picture clearly does vary across the boondocks, the bulk of the feedback we are receiving points to a fairly flat summer for both liveliness and prices,» said Simon Rubinsohn, chief economist at Rics.

«Be deficient in of stock on the market remains a key challenge for the sector.»

He also said that tax becomes for buy-to-let investors were likely to mean that rents determination continue to rise faster than house prices, in the near following as well as further ahead.

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