Surveyors continue to see London steaming ahead with price rises

RICS Housing Market Survey

The RICS UK Housing Market Survey for July sees London continuing to outperform the rest of the UK.

Top headlines from the survey are:

  • House prices continue to decline
  • Price expectations negative albeit less so than previous month
  • London steams ahead with rising prices

So on balance across the UK the proportion of surveyors seeing a price fall rather than a price rise is still negative, indeed -22%.

When looked at seasonally adjusted this is actually an improvement  with the past months being -26 and -28 respectively.

Also of those reporting a fall, 82% saw it within the lower bracket of 0 to -2%.

Regional difference continues

Regionally however London continues on with it’s price rises with a net balance of 34% – 34% more surveyors seeing a rise than a fall.

All other regions had a negative net balance between -17 and -48 for Scotland and Northern Ireland respectively.

Looking ahead

In the forward looking part of the survey, RICS members still negative expectations for price, yet less than in previous months. Sales expectations however remain unchanged and in the positive area.

Alec Hanson

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