The Royal Institution of Chartered Surveyors (Rics) has revealed that last month’s freezing weather conditions caused a slump in activity in the UK housing market.
Rics found that more surveyors reported a fall than a rise in inquiries from potential property buyers in January - the first drop in inquiries for 14 months. It also recorded its first drop in the number of new sellers for the first time in seven months.
There was also a fall in the level of new sales agreed, with each chartered surveyor estate agent selling an average of 18 properties during the three months to the end of January - down from 19 in the previous three-month period and the first drop since last March.
Rics blamed the slump in activity on the harsh winter weather that swept across the UK last month, causing many buyers and sellers to put their moving plans on hold.
But despite the snowy conditions, the group said 32 per cent more of its members saw an increase in house prices in January than those who saw falls, up from 30 per cent in December.
In addition, the number of surveyors expecting a rise in house prices doubled in January from 12 per cent to 24 per cent, while the proportion of surveyors expecting sales to increase over the next three months rose from 7 per cent in December to 24 per cent.
Commenting on the figures, RICS spokesman Ian Perry said: "The cold snap in January clearly has a huge impact upon both supply and demand in the housing market with activity coming to a halt amidst the seasonal chaos."
"Activity and interest is likely to pick up in the coming months as the market experiences a Spring bounce."
"House prices are likely to rise in the short term but if more supply continues to come onto the market, it is possible that the market will run out of steam in the latter part of the year."
|
||||||||
|
Buying property
Selling property Estate agent fees Free property guides Conveyancing services Mortgage services See all Property Guides
 My estateagents
|
Freezing Weather Hits Housing Market Activity Wed, 10 Feb 2010
     Recommended linksPortal for buying and selling propertyUK estate agents directory International estate agent directory Property guides Properties for sale Property for rent Estate agent fees New build property search Interactive property map Surveyors directory Consumer Confidence In The Housing Market On The Up Property Index Shows Confidence Returning To Housing Market Estate agents claim market recovery Home Information Packs Hindering Market Recovery |
|
||||||
Site Map |
About estateagents.co.uk |
Contact |
Terms & Conditions |
Links |
Press |
Estate Agents Login | 
© 1999-2009 estateagents.co.uk
© 1999-2009 estateagents.co.uk