UK Housing Market Resurgence

In the latest RICS Residential Market Survey, it has been revealed that, during July, a net balance of 53% more chartered surveyors reported increases in demand, meaning the number of potential buyers looking to enter the market grew at a rate not seen since July 2009.

Growth has been slow and steady as buyers trickled in to test the market, but flooded back in July. Growth was experienced all around the country, the biggest increases of which were seen in the North-East and the West Midlands.

House prices also rose for the fourth consecutive month, experiencing their fastest rate of growth since the market peak of November 2006.

Peter Bolton King, RICS global residential director, said, “These results are great news of the property market as it looks like at long last a recovery could be around the corner. Growth in buyer numbers and prices have been happening in some parts of the country since the beginning of the year but this is the first time that everywhere has experienced some improvement. It is clearly good news that those parts of the property market that were struggling are at last showing some signs of life.”

Back to news