The February 2017 RICS UK Residential Market Survey shows key activity indicators in the sales market remain subdued with transaction volumes broadly unchanged for the third month in succession. New buyer enquiries were again flat and have now failed to see any meaningful growth since November 2016. Near term expectations remain positive but point to a relatively modest rise in activity in the months to come.
The headline price balance came in at +24% in February, unchanged from a downwardly revised figure of +24% in January. Respondents in most regions reported an increase in prices with the strongest growth in the North West of England and notable improvements in Northern
Ireland as well. London* and the North East of England remain the exceptions with momentum in the former deteriorating for the fourth consecutive month. In fact, surveyors have now reported a fall rather than a rise in London prices for a full year (with most of this activity concentrated in the inner boroughs).
Source : RICS