Prices con­tinue to out­strip wages

Yorkshire Post - Property - - PROPERTY NEWS -

SUP­PLY: A short­age of sup­ply of sales and rental prop­erty in York­shire con­tin­ues to present a huge chal­lenge for the hous­ing mar­ket, ac­cord­ing to the Jan­uary 2017 Royal In­sti­tu­tion of Char­tered Sur­vey­ors UK Res­i­den­tial Mar­ket Sur­vey. In Jan­uary, new land­lord in­struc­tions failed to im­prove for a se­cond con­sec­u­tive month, while tenant de­mand in­creased. The num­ber of homes for sale in­creased slightly, along­side a rise in the num­ber of buy­ers. Si­mon Ru­bin­sohn, RICS Chief Econ­o­mist, says: “The medium term view is that both house prices and rents will con­tinue to grow at a faster pace than wages.”

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