UK Residential Market Survey [Electronic resource] June 2024
UK Residential Market Survey June 2024 [Electronic resource]
- London, Royal Institution of Chartered Surveyors, July 2024
- 18p
- RICS UK Residential Market Survey .
The June 2024 RICS Residential Survey results
continue to point to a relatively subdued market
backdrop at present, with indicators on buyer
demand, sales and prices remaining in slightly
negative territory. That said, despite recent months
showing a softening in momentum, respondents
expectations have now turned a little more
optimistic with regards to the near-term outlook
for sales activity.
At a headline level, the new buyer enquiries
measure posted a net balance reading of -7% in
June, broadly in-line with the figure of -8% returned
last month. As such, this indicator continues to
signal a modest weakening in demand from home
buyers, marking the third month in succession in
which enquiries have reportedly slowed.
At the same time, the newly agreed sales gauge
posted a net balance of -7% this month, marginally
less negative than the reading of -13% seen in
the previous iteration of the survey. These two
downbeat readings following a brief period of
recovery earlier in the year, which looks to have
slipped into reverse of late.
HOUSING MARKET
RESIDENTIAL PROPERTY
United Kingdom
The June 2024 RICS Residential Survey results
continue to point to a relatively subdued market
backdrop at present, with indicators on buyer
demand, sales and prices remaining in slightly
negative territory. That said, despite recent months
showing a softening in momentum, respondents
expectations have now turned a little more
optimistic with regards to the near-term outlook
for sales activity.
At a headline level, the new buyer enquiries
measure posted a net balance reading of -7% in
June, broadly in-line with the figure of -8% returned
last month. As such, this indicator continues to
signal a modest weakening in demand from home
buyers, marking the third month in succession in
which enquiries have reportedly slowed.
At the same time, the newly agreed sales gauge
posted a net balance of -7% this month, marginally
less negative than the reading of -13% seen in
the previous iteration of the survey. These two
downbeat readings following a brief period of
recovery earlier in the year, which looks to have
slipped into reverse of late.
HOUSING MARKET
RESIDENTIAL PROPERTY
United Kingdom