GENERAL RESIDENTIAL MARKET REPORT FOR SEPTEMBER 2013
Sales follow prices higher
• Headline price and price expectations net balances reach their highest level in over 10 Years
• Continued growth in new buyer enquiries pushes 3 month sales expectations to a series High
• 12 month price and sales expectations also reach new highs
The September 2013 RICS Residential Market Survey highlights a further improvement in housing market conditions.
While the improvement in the economy may be playing a role in releasing some of the pent-up demand for housing that will have grown during the years of the financial crisis, official stimulus
measures such as the Bank of England’s Funding for Lending scheme and the government’s Help to Buy initiative have also had important roles to play in driving this recovery. Indeed, anecdotal
evidence from responses to this survey suggests the latter policy, in particular, is now having an effect in boosting activity.
Locally, the increased activity in August has continued into September. Enquiries, viewing and agreed sales have increased but new instructions have waned slightly which is causing a slight uplift in prices and competition for some properties. Some older stock is also selling. The best market since the peak of 2007