Latest RICS residential survey paints gloomy picture

Houses for sale

New sales listings down and section 21 reforms could see landlords exiting the market

New listings of homes for sale have declined to their lowest level for nearly three years, according to the RICS.

The lack of new homes coming onto the market was limiting choice for buyers, leading to a fall in activity, the surveyors’ body said in its April residential survey.

Headline indicators on demand, supply and prices remained “downbeat”, while Brexit uncertainty remained a “constraint”, with little momentum foreseeable in the short term, although expectations further out were “slightly more positive”.

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