RICS UK Residential Market Survey

ricsInteresting reading for a Friday…

RMA Surveyors Ltd, Newbury has been catching up on the latest RICS UK Residential Market Survey.

Simon Rubinsohn; Chief Economist (RICS) comments in a press release: ‘Demand and supply are looking a little more balanced, which is removing some of the upward pressure in prices, particularly in London. This is a healthy development. Part of this is down to the Bank of England becoming more vocal about the risks, part of this is down to affordability, part of this is down to the new mortgage rules and part of this is down to expectations of higher interest rates.’ 

While Peter Bolton King; Global Residential Director (RICS) wrote in his comment article (09.10.14): ‘In this country we hear cries if prices are going up and cries of doom and gloom if there is any indication of the reverse. A happy medium of stable, or gently rising prices does not make an eye-catching headline!

However, the latter is what we are seeing. Today I and other spokespeople, will do our best to get the message over that the reduced pressure on prices, particularly in London, is a healthy development and not negative news. ‘The future remains positive’ will be my comment but I bet someone will turn this into ‘market crash imminent!’.