The April 2016 RICS/Ci PHMS results point to a further strengthening in sales market activity. This is driving an acceleration in house price growth and pushing confidence higher in the process. In the lettings market, the imbalance between rising occupier demand and falling landlord instructions continues to worsen, with rental expectations increasing as a result.
Starting with the sales market, new buyer enquiries rose at the fastest pace in seven months with Lisbon again recording the strongest pick-up. Meanwhile, instructions to sell increased for the fourth month in succession. Nevertheless, demand has still outstripped supply (in net balance terms) in three of the last four reports. At the same time, sales growth gathered pace during April as each region (Lisbon, Porto and the Algarve) posted a solid increase in transactions. Looking ahead, respondents’ near term sales outlook is turning increasingly upbeat, as expectations improved noticeably over the month.
Source : RICS