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041			_aeng
110			_aRoyal Institution of Chartered Surveyors
245			_aUK Residential Market Survey _bOctober 2024 _h[Electronic resource]
260			_aLondon, _bRoyal Institution of Chartered Surveyors, _cNovember 2024
300			_a17p
490			_aRICS UK Residential Market Survey
520			_aThe October 2024 RICS Residential Survey results continue to signal an improving market backdrop, evidenced by modestly positive readings once again being returned across all headline measures of activity. Furthermore, forward-looking indicators remain consistent with a further pick-up in sales volumes over near-term, although the rise in bond yields in recent weeks is likely to present something of a headwind as it feeds through into general lending conditions. Unfortunately, the chasm between the supply of properties available for let and rising public demand continues to expand. A net balance of +19% reported increasing tenant demand over the three months to October. At the same time, landlord instructions, which is the metric measuring landlords making their property available for rent, fell over the same timeframe. This is evidenced by a net balance reading of -29%, which is its weakest reading since the end of 2021. Unsurprisingly, a net balance of +33% of respondents expects rental prices to be driven higher over the coming three months, due to this mismatch between supply and demand.
650			_aHOUSING MARKET
650			_aRESIDENTIAL PROPERTY
651			_aUnited Kingdom
710			_aRoyal Institution of Chartered Surveyors
856			_uhttps://www.rics.org/content/dam/ricsglobal/documents/market-surveys/uk-residential-market-survey/October-2024_UK-Residential-Market-Survey.pdf _zAvailable free on RICS.org
942			_n0
999			_c122059 _d122059