Boris Johnson’s general election win has triggered a ‘lift in sentiment’ across the housing market, a respected survey of property professionals claims.
Future sales expectations have risen ‘sharply’and house price look set to rise over the next few months and for the rest of the year, the Royal Institution of Chartered Surveyors said.
The number of agreed home sales rose for the first time since May last month, bolstered largely by London and the South East of England.
The number of buyers contacting estate agents about potentially wanting to buy a new home is also on the up, particularly in Wales and the North East of England.
Simon Rubinsohn, chief economist at the RICS, said: ‘The signals from the latest RICS survey provides further evidence that the housing market is seeing some benefit from the greater clarity provided by the decisive election outcome.
‘Whether the improvement in sentiment can be sustained remains to be seen given that there is so much work to be done over the course of this year in determining the nature of the eventual Brexit deal.
‘However, the sales expectations indicators clearly point to the prospect of more upbeat trend in transactions emerging with potential purchasers being more comfortable in following through on initial enquiries.’
RICS members reported house prices continuing to drop in cetain parts of the country, especially in south-east England, London and East Anglia, but most expected house prices to rise over the course of the year.
A net balance of 61 per cent of industry insiders surveyed said they expected prices to increase over the coming 12 months, almost double the 33 per cent balance a month earlier.
‘Whether the improvement in sentiment can be sustained remains to be seen given that there is so much work to be done over the course of this year in determining the nature of the eventual Brexit deal.
‘However, the sales expectations indicators clearly point to the prospect of more upbeat trend in transactions emerging with potential purchasers being more comfortable in following through on initial enquiries.’
RICS members reported house prices continuing to drop in cetain parts of the country, especially in south-east England, London and East Anglia, but most expected house prices to rise over the course of the year.
A net balance of 61 per cent of industry insiders surveyed said they expected prices to increase over the coming 12 months, almost double the 33 per cent balance a month earlier.
Source: This is money
