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Rics Survey June 2010

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http://www.rics.org/housingmarketsurvey

June 2010

Page 1 of 7

Weaker demand and increasing supply hits price expectations

New instructions continue to rise, while new buyer enquiries decline

Price expectations turn negative, but sales outlook remains positive

London and Scotland remain clear outperformers

The June 2010 RICS Housing Market Survey headline net price balance fell from +21 to +9. This is the lowest reading since July 2009. Buyer interest fell for the first time since the beginning of this year (the net balance slipped from +8 to -5), while property coming onto the market increased at the fastest pace since May 2007 (the net balance rose from +22 to +27).

One of the factors driving the sharp increase in instructions was the abolition of HIPs in May. Reflecting the increase in new vendor instructions, the average stock of property on surveyor’s books increased by 8.1% on the month to 66.6 per surveyor.

Meanwhile, the average number of completed sales only rose by 0.8% on the month to 16.7 per surveyor. As a result, the sales to stock ratio – a key indicator of market slack – fell to 25%, the lowest level since June 2009.

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New buyer enquiries are actually falling now. Whereas before it was simply the massive new stock with buyers remaining steady/rising slightly. Now we have double the fun with buyers dropping AND supply surging!

Are buyers finally releasing it's down hill from now on?

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John Pocock FRICS, Pocock &

Shaw, Cambridge,

Cambridgeshire, 01223 322552

- There are potential problems at

the lower end of the market with

a very limited number of buyers.

There is a real prospect that

prices will have to reduce here

to open the field to more first

time buyers.

In Cambridge, anything half-decent will still be fought over by sticky-fingered bunfighting landlords and the well-to-do for some time yet.....

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stock may be rising and no of buyers falling but the prices around me are still stubbornly over-optimistic (South Shropshire) - both those who have been for sale for a while and regrettably those new to the market. Noticed an interesting trend this week where some EAs are relaunching most of their stock onto RM including SSTCs and losing the property Bee history - sneaky but does not fool anyone. ;)

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John Bradburne FRICS, Bradburne & Co, St Andrews, Scotland, 01334 479 479

The market has been quiet except for big country houses or country houses which can be extended. Run of the mill urban houses attract little excitement in the market. Prices however seem to have waivered very little which is strangely ambiguous.

Peter McEachran FRICS

Thanks for clearing that up, Peter.

Their members in Edinburgh seem to have stopped supplying comments a couple of years ago, and once again there's nothing from them. I wonder why?

Edited by Scunnered

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But the government won't let it crash on this small crowded island where they're not making any more land proving renting is dead money and you can't go wrong in bricks and mortar especially with affordability improving showing it really is different this time because prices won't drop much making it a good time to snap up a cracking deal ensuring you don't miss the boat.

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But the government won't let it crash on this small crowded island where they're not making any more land proving renting is dead money and you can't go wrong in bricks and mortar especially with affordability improving showing it really is different this time because prices won't drop much making it a good time to snap up a cracking deal ensuring you don't miss the boat.

:lol:

Very good.

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But the government won't let it crash on this small crowded island where they're not making any more land proving renting is dead money and you can't go wrong in bricks and mortar especially with affordability improving showing it really is different this time because prices won't drop much making it a good time to snap up a cracking deal ensuring you don't miss the boat.

a courtesy mention of supply and [possibly pent-up] demand wouldn't have gone amiss.

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But the government won't let it crash on this small crowded island where they're not making any more land proving renting is dead money and you can't go wrong in bricks and mortar especially with affordability improving showing it really is different this time because prices won't drop much making it a good time to snap up a cracking deal ensuring you don't miss the boat.

Nice one! You could create a range of Krusty dolls with a pull string that recites this each time it is pulled. Estate agents could have them on their desks and on the parcel shelf in their Mini Coopers. :lol:

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You didn't mention the 'property ladder' .... :o

OK. just for you and Flying Pig.

But the government won't let it crash on this small crowded island where they're not making any more land thereby proving renting is dead money and that you can't go wrong in bricks and mortar especially with affordability improving together with limited supply and pent-up demand showing it really is different this time because prices won't drop much making it a good time to snap up a cracking deal and get on that all-important first rung of the ladder ensuring you don't miss the boat.

I think I've just caught conjunctivitis.

Edited by barry

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  • 145 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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