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The May 2016 RICS/Ci PHMS results show sales market confidence climbing to a twelve month high, with respondents upgrading their near term price and sales expectations. In the lettings market, a lack of landlord instructions and solid demand continues to drive rental growth.
Focusing on the sales market, new buyer demand increased once more, extending an uninterrupted sequence of growth stretching back to the end of 2013. When broken down, agents reported a broadly similar pace of increase to that of April while developers noted a significant surge in buyer interest. Conversely, new sales instructions dipped in May, following a modest increase in each of the past four months. At the same time, agreed sales were reported to have picked up firmly in the Algarve and at a steady rate in Lisbon. In Porto, meanwhile, sales were more or less unchanged. Nevertheless, sales volumes are expected to rise in all areas over the coming three months.
Source : RICS
