Post-Election Housing Supply Surge Fails To Materialise

Hopes for a post-election supply bounce fail to materialise as vendor instructions fall for the fourth consecutive month and the average stock of houses per surveyor falls by around 12% since the start of 2015. House prices rose again in May, and at a quicker pace than in April, as the stock of homes per UK surveyor fell to a record low since the data series began in January 1978, according to the latest RICS UK Residential Market Survey. While 34% more surveyors saw prices rise in May, supply to the market declined for the fourth consecutive month with 19% more surveyors reporting a drop in new instructions. Read more on the RICS website.