The downward pressure on British house prices has continued according to the latest RICS Residential Market Research for April.
However, there are positive signs with the current indicator lecture for April -39% less negative compared to net balance of -43% and -47% seen in March and February.
There are clear variations at regional level. While the price drop in London delayed (net balance -9% compared to -45% in March), the net balance fell deeper into a negative area in the southeast (-62%) and East Anglia (-77%).
The RICS survey points to the expectations of further house price falling in the United Kingdom in the coming months in total aggregated, with a net balance of -48% versus -47% earlier.
However, the Outlook of twelve months continues to improve the lows of the end of 2024, which returns a net balance of -16% in April compared to -24% in December (and an increase of -61% in November 2022).
With regard to the new question from the new buyer, the net balance of the head in April came to -37%, which fell from a lecture of -30% in each of the last two reports.
Although the figure of April indicated a renewed decrease in buyers’ questions, it was better than the gloomy figure of -43% posted in January.
According to RICs, almost all parts of the UK registered a negative or flat trend in the demand for buyers, with the exception of Noord -Ireland (where a marginal rise was reported).
In addition, the agreed sales indicator returned a net balance of -19% in April, an increase in a number of -30% last month. In fact, this represents the least negative reading since July 2022.
In an overview of 12 months, the predictions indicate a largely stable trend in sales activity that pops up, whereby a net balance lecture of +3% was registered (little changed from +1% last month).
With regard to the offer, the respondents indicated a generally flat image for new instructions in April. In addition, a net balance of -36% of the contributors reported that the number of market reviews that was undertaken during the month was under the equivalent period of last year. This suggests that supply conditions will remain tight in the near future.
On the rental market, the demand for national tenant increased in the three months to April according to a net balance of +40% of the respondents.
In accordance with this, a decrease in the landlord’s instructions was reported by a net balance of -31% of the participants in the survey. Because the supply continues to exceed the supply, the rental prices are expected to be forced higher in the short term.
In commentary on the RICS data, Shawbrook said managing director of Real Estate Emma Cox that, despite recent reductions of the mortgage interest on the market, the fall in April in purchase activity would largely be attributed to the removal of stamp rights for first buyers.
“As a result, the rental demand – which has been high for some time – is increasing, surpassing the range of quality stock and further taxes the housing market.”
Professional landlords play a key role in offering suitable, efficient properties to meet the growing rental population, and many will turn to various real estate types such as houses in multiple occupation (HMOs) and semi-commercial properties to maximize the yields in the face of any market. “
According to the latest data from Halifax (released the same day as RICS) Prices of real estate rose in April only 0.3%,