RICS see indicators continue to improve

RICS House Price BalanceThe Royal Institute of Chartered Surveyors has seen that their activity indictors in their recent survey have continued to edge upwards.

Key Points:

  • New Buyer enquiries have risen for the 3rd consective month
  • Sales per surveyors has climbed to their best level since April
  • Price Indicator points to a stable picture

Further the November 2012 RICS Housing Market Survey has reported a slightly more negative headline net price balance than it saw in October. This was seen at -9, compared to -7 in October, which means that 9% more surveyors saw a fall in house prices than those that saw a rise.

However this region of surevy results indicates a generally stable trend in the main price indices. Further more, 2/3rds of respondents actually reported that prices had not changed over the previous three months. This all helps with the view that we have a stable picture going into 2013

The forward looking indicators contained in the survey covering both the three and twelve month horizons suggest that this picture is likely to persist through the course of the coming year.

Regionaly London continues to out perform the rest of the regions, with a net balance reaching nearly 40. All although regions had a negative balance, with Wales, Yorkshire and Humber and East Midlands taking the bottom three spots respectively.

Alec Hanson

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