Published: 10/04/2020
This section of Inform has been repurposed during the Covid-19 crisis to provide management information for subscribers by reporting on key housing and economic indicators as they emerge.Confidence is always a key driver of transaction volumes and prices. This week RICS published its latest Sentiment Survey which has gauged the mood since 1998 based on its monthly survey of estate agents.
The sales market plummeted in March, measured by new buyer demand and completed sales. Expectations for 3 months ahead remain negative as does the 12 month outlook. However, the 5 year outlook for prices is virtually unchanged averaging +2.5% per annum.
The rental market also suffered downward pressure in March and is expected to stagnate over the next year. Again, the 5 year outlook on prices is for a return to annual average growth of 2.5% per annum out to 2025.
Are you trying to find a new place to live, call Willmotts for property advice or information with selling and or buying a home please email sales@willmotts.com or call 020 8222 9958