General News

Housing Market – January Update

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Extreme weather puts a freeze on activity but prices continue to rise

  • The net price balance increased to +32%.
  • The new buyer enquiries, new instructions and agreed sales net balances turn negative due the weather.
  • Surveyors remain optimistic about the short term outlook for both prices and activity.

The January 2010 RICS Housing Market Survey showed an increasing number of surveyors seeing price rises rather than falls. The seasonally adjusted net balance of surveyors reporting rising rather than falling prices rose to 32% in January from 30% and is now only slightly below

November’s recent high of 35%.

However, buying and selling fell during the month; respondents to the survey attributed this to the extreme weather conditions experienced in the early January. The new buyer enquiries net balance fell to -20% (from +18%), the agreed sales net balance fell to -15% (from +19%) and the new instruction net balance fell to -5% (from +15%).

To view the RICS Housing Market Report please click on link below.


John King, Director of Quinton Scott comments:

‘Transactional levels are improving which is further evidence of the recovery.? The top end of the market, circa ?3-?5M is in short supply at present and this is fueling Estate Agents’ opiion on value.??? Overall a good start to the year’.

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