The February 2016 RICS/Ci PHMS results show steady demand continuing to underpin the ongoing recovery in house prices, albeit the pace of house price inflation has now softened in two consecutive reports. In the lettings market, the mismatch between increasing demand from tenants and falling landlord listings persists, placing further upward pressure on rents.
Starting with the sales market, new buyer enquiries picked up smartly at the headline level, with demand increasing in each region over the month. Alongside this, agreed sales also rose at a modest pace in February. As such, the headline sales indicator has now returned to positive territory for two successive periods after signalling a slight contraction in December. Going forward, agents continue to expect solid sales growth in the near term.
Source : RICS