UK Residential Market Survey July 2023 [Electronic resource]
Language: English Series: RICS UK Residential Market SurveyPublication details: London, Royal Institution of Chartered Surveyors, August 2023Description: 18pSubject(s): Online resources: Summary: The Royal Institution of Chartered Surveyors (RICS) UK Residential Survey for July 2023 paints the picture of a housing market continuing to lose ground to the effects of higher mortgage rates. At the national level, new buyer enquiries posted a figure of -45%, like last month’s figure of -46%. As a result, this metric continues to signal a sharp downturn in buyer demand following the latest escalation in mortgage interest rates. When viewed at the level of the English regions and the four nations, all parts of the UK display a firmly negative return for new buyer enquiries over the month.| Item type | Current library | Call number | Status | |
|---|---|---|---|---|
| Online material | Virtual Online | MARKET DATA (Browse shelf(Opens below)) | Available |
The Royal Institution of Chartered Surveyors (RICS) UK Residential Survey for July 2023 paints the picture of a housing market continuing to lose ground to the effects of higher mortgage rates.
At the national level, new buyer enquiries posted a figure of -45%, like last month’s figure of -46%. As a result, this metric continues to signal a sharp downturn in buyer demand following the latest escalation in mortgage interest rates. When viewed at the level of the English regions and the four nations, all parts of the UK display a firmly negative return for new buyer enquiries over the month.