UK house prices are forecast to rise by 25% over the next
five years and become “ever more unaffordable”, largely because of an acute
shortage of homes for sale, a leading property body has warned. The Royal
Institution of Chartered Surveyors (Rics) said the supply of homes for sale –
as measured by the average number on a chartered surveyor estate agent’s books
– had fallen to its lowest level since records began in January 1978. It added
that an anticipated post-general election “supply bounce” had failed to
materialise, with the north-west and London seeing the sharpest drop in
instructions compared with April. The average stock of houses per surveyor now
stands at 52, down by around 12% since the start of 2015. Read more on the
Guardian website.
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