RICS UK Residential Market Survey

As expected, there has been a slight slow down in property sales activity following the recent phasing out of the stamp duty holiday according to the RICS UK Residential Market Survey. The supply of new properties coming to market continues to slow and has reached its lowest level since April 2020, the most affected areas are Yorkshire & the Humber, the East Midlands, and East Anglia. However, prices are still going up and this trend is apparent across the whole of the UK. Demand for rented accommodation is still on the rise and a lack of landlord instructions is adding acute pressure to this area of the market. The RICS Residential Market Survey is a monthly sentiment survey of Chartered Surveyors who operate in the residential sales and lettings markets and you can read the full report here.