The RICS housing market survey for March, indicates that the net price balance remains in positive territory although it has fallen to 9% since reaching 18% in March.
The survey of RICS surveyors also showed that surveyors remain positive on the price movement over the last three months at a national level.
Buyer interest has dropped down from +7 to 0 after 14 months of consecutive increases (excluding January’s weather related figures). On a positive note vendor activity has picked up with new instructions rising from +16 to +21 – the highest since May 2008.
Activity is expected to rise over the coming months, but at a more subdued pace than was expected in February
Not surprisingly there was quite a big variation in regional price trends. As expected London and South East remained the strongest performers, however surprisingly Scotland recorded convincing price gains.
RICS surevy respondents have indicated that Yorkshire and Humberside, West Midlands, the North and East Anglia now have falling rather than rising prices.
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