UK
Ireland
Scotland
London
Construction News
11/09/2012
UK Housing Marketing Activity Remains Relatively Firm
Activity in the UK housing market held relatively firm during August despite the distraction of the Olympic fortnight, according to the latest Royal Institute of Chartered Surveyors (RICS) UK housing market survey.
In the three months to August, chartered surveyors sold on average 7.5 percent of the homes on their books per month. Although historically low, the proportion of sales to stock has remained relatively consistent throughout 2012.
In spite of this, perhaps unsurprisingly, with the Olympics having taken centre stage during August, the amount of potential buyers looking to view property saw a slight dip. A net balance of nine percent more surveyors reported falls in demand, down from -4 percent in July.
Alongside this, the number of new instructions was effectively unchanged on the July figure. With the amount of fresh supply coming onto the market having remained relatively stable so far this year, surveyors report that sales are progressing where vendors are realistic with their asking prices.
Elsewhere, prices continued to edge lower in August, albeit at a slower pace than in previous months. A net balance of 19 percent more respondents reported price falls rather than rises, from -23 percent in July.
Regionally, London was once again the only part of the country to report a positive reading for prices, while surveyors in Northern Ireland , the West Midlands and Yorkshire and Humberside reported the weakest readings.
Looking ahead, chartered surveyors across the country predict transaction levels to pick up slightly as autumn approaches with 12 percent more respondents expecting sales to rise rather than fall over the coming three months. The same cannot be said for future prices however with a net balance of 13 percent of surveyors expecting further drops.
RICS Spokesperson, Ian Perry, said: "Little changed in the housing market last month. Despite the Olympics taking centre stage throughout much of August, it didn’t have any real impact on the proportion of sales going through. Understandably, the amount of people out looking at property fell away slightly but, generally speaking, demand held up fairly well."
(CD)
In the three months to August, chartered surveyors sold on average 7.5 percent of the homes on their books per month. Although historically low, the proportion of sales to stock has remained relatively consistent throughout 2012.
In spite of this, perhaps unsurprisingly, with the Olympics having taken centre stage during August, the amount of potential buyers looking to view property saw a slight dip. A net balance of nine percent more surveyors reported falls in demand, down from -4 percent in July.
-- Advertisement --
Alongside this, the number of new instructions was effectively unchanged on the July figure. With the amount of fresh supply coming onto the market having remained relatively stable so far this year, surveyors report that sales are progressing where vendors are realistic with their asking prices.
Elsewhere, prices continued to edge lower in August, albeit at a slower pace than in previous months. A net balance of 19 percent more respondents reported price falls rather than rises, from -23 percent in July.
Regionally, London was once again the only part of the country to report a positive reading for prices, while surveyors in Northern Ireland , the West Midlands and Yorkshire and Humberside reported the weakest readings.
Looking ahead, chartered surveyors across the country predict transaction levels to pick up slightly as autumn approaches with 12 percent more respondents expecting sales to rise rather than fall over the coming three months. The same cannot be said for future prices however with a net balance of 13 percent of surveyors expecting further drops.
RICS Spokesperson, Ian Perry, said: "Little changed in the housing market last month. Despite the Olympics taking centre stage throughout much of August, it didn’t have any real impact on the proportion of sales going through. Understandably, the amount of people out looking at property fell away slightly but, generally speaking, demand held up fairly well."
(CD)
Latest Construction News
17/01/2025
Leeds Trinity University has officially opened its newly refurbished City Campus at 1 Trevelyan Square in Leeds.
Completed by GRAHAM Interior Fit-Out, the transformation of the central Leeds site introduces state-of-the-art facilities designed to improve learning and collaborate with industry partn
17/01/2025
Trammell Crow Company (TCC) has secured planning permission for a Grade A logistics scheme in Heywood, Greater Manchester, following a successful planning appeal.
The development will feature two state-of-the-art industrial and logistics buildings. One building will house two units measuring 4,796
17/01/2025
Poole-based developer AJC Group has celebrated a record-breaking 2024, delivering 100 affordable homes, a significant increase from the 72 units completed in the previous year.
Since 2023, AJC Group has completed and handed over 172 affordable homes across five sites.
In 2024 alone, the developer
17/01/2025
Plans for one of the most ambitious parks projects in London have taken a significant step forward, with Haringey Council securing nearly two additional acres of land around The Paddock nature reserve in Tottenham Hale.
The agreement with Thames Water marks a major milestone in the transformation o
17/01/2025
Islington Council has unveiled two draft guidance documents aimed at helping residents, businesses, and developers combat climate change by making buildings more energy efficient and fostering a greener, healthier borough.
The consultation seeks feedback on the draft Climate Action Supplementary Pl
17/01/2025
The City of Wolverhampton Council has unveiled a £98 million investment plan over the next five years to develop around 500 new homes across the city.
The proposal, part of the Housing Revenue Account (HRA) Business Plan, received Cabinet approval this week and now moves to Full Council for final
17/01/2025
Croydon Council has announced a significant milestone in the redevelopment of the Purley Pool site, with revised proposals submitted for a new leisure centre, later living housing, and the regeneration of the surrounding area.
A planning application for the site was initially submitted in 2024, pro
17/01/2025
The City of Wolverhampton Council has announced that demolition work has commenced on the New Park Village estate, marking the start of a major £40 million redevelopment project to transform outdated council housing.
Contractor DSM Demolition has begun pulling down poor-quality bungalows on Valley
17/01/2025
Hillingdon Council has acquired 12 new homes at Carpenters Court in Uxbridge.
Leader of Hillingdon Council, Cllr Ian Edwards and Cllr Steve Tuckwell, Cabinet Member for Planning, Housing and Growth, visited the site to officially mark the handover of the properties from local developer Kearns Devel
17/01/2025
Organisers of UK Construction Week (UKCW) have announced another major coup for the show's 10th anniversary year, with the news that UKCW London will be co-locating with the 14th edition of The Stone Show & Hard Surfaces, the principal industry event for surface design.
Established 26 years ago, th
