Every month, RICS (the Royal Institution of Chartered Surveyors) releases the UK Residential Market Survey. The survey aims to analyse the property market trends across the country, highlight the changes over the past three months and predict upcoming performance. It is used by the government, Bank of England and other key institutions, including the IMF, and is the leading source of market intelligence in the sector.
The results of the latest report point to a continued nationwide tendency of key activity indicators still in negative territory. However, the tendency is driven mainly by the London and South East property market, with respondents in the North West, Wales and Scotland having positive predictions for the year ahead.
What’s worth noting is that only two of the twelve regions covered by the survey reported an increase in new buyer demand over the past month – Midlands and the North – both are very close to our heart as they are where you can find your forever home with Harron Homes.
Both regions have seen an increase in completed sales as compared to the last three months, with the North increasing nearly 20% and the Midlands around 10%.
Last months’ property market performance in our key regions was best summarised by a surveyor from Yorkshire: “Extreme cold weather failed to harm early spring green shoots of hope.”
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