Spring bounce falls flat as sales slip
THE traditional spring bounce in the property market has failed to materialise, according to the Royal Institution of Chartered Surveyors.
Sales in May fell back on April’s levels. In the three months to May, the average RICS estate agent sold 14.7 properties. The average number of properties listed climbed by 8.1 per cent to average 71.3 per office, but new buyer inquiries slipped by two per cent. House prices were virtually static. Ian Perry, of RICS, says: “Buyer interest in purchasing property remains flat across much of the country.
“Uncertainty over the economic outlook remains as important as the availability of mortgage finance in depressing demand.”