The supply of properties coming on to the market fell for
a ninth month running in October, driving up prices on homes for sale. The
latest monthly snapshot of the housing market from the Royal Institution of Chartered
Surveyors (RICS) showed the supply drought continued into the autumn, and that
prices have taken off in East Anglia. RICS’s report showed that, across the UK,
10% more members saw a fall in instructions by home sellers than a rise. At the
same time, inquiries from would-be buyers rose. Experts have suggested that
potential sellers are being put off by the high cost of moving and that the
lack of stock could be self-perpetuating, as the shortage of possible places to
move also deters people from offering their home for sale. Read more on the
RICS website.
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