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BIGGEST CHALLENGES FACING THE HOUSING MARKET AT PRESENT
- With just days to go before the UK was expected to leave the EU, we seem no closer to a solution than when Article 50 was triggered almost two years ago. It is little wonder therefore, that uncertainty is expected to continue to impact the housing market.
- However, the second biggest challenge facing the housing market at present is the lack of properties available to buy, a factor that is viewed as more significant than affordability concerns.
- Agents in the latest RICS UK Residential Market Survey report that new instructions fell again in February, with the average number of properties available to buy per agent, returning to a record low.
- As the spring market gets underway, buyers will be hoping that potential vendors will be able to look beyond the current uncertainty and help to get the market moving again.