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New buyer enquiries fall, along with agreed sales

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Supply of housing for sale is within a whisker of all-time low levels, say surveyors
New buyer enquiries fall, along with agreed sales

Agreed sales and new buyer enquiries continued to slip in March, according to the Royal Institution of Chartered Surveyors.

Its latest member survey revealed that price movement across the UK is flat, weighed down by London and the South East.

Surveyors also pointed to subdued momentum in the housing market, with little prospect of the tide turning in the short term.

However, the regional breakdown showed much of the weakness stemming from London and the South East, while conditions appear somewhat firmer in other parts of the UK.

Demand down

Demand remains subdued, added the RICS, as new buyer enquiries deteriorated for the 12th month in a row. In fact, only two of the 12 regions covered by the survey saw an increase in new buyer demand over March.

The number of fresh sales listings also slowed in March, taking average stock levels on estate agents’ books to ‘within a whisker of an all-time low’.

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