Housing Demand Drops to Six-Year Low in U.K.

House hunters are shunning the U.K. property market with demand falling to an almost six-year low in February, according to a report Monday from the National Association of Estate Agents (NAEA). The number of prospective buyers registered per brokerage fell 15% to 252 last month, from 297 in January, according to the professional body that represents members from over 12,000 offices.   That number is the lowest registered since July 2013, when agents recorded an average of 250 prospective buyers per estate agency. Read more on the NAEA website.

https://www.naea.co.uk/lobbying/housing-market-reports/

House Hunters Return, But Struggle To Find Available Homes

House hunters are returning to the UK residential market after the June referendum, but may face a lack of purchase options as the supply of available homes remains restricted, according to our latest residential market survey. The survey shows;

§  Homebuyer demand has increased for the second consecutive month.

§  Across the country, 10% more respondents reported rise in homebuyer interest.

§  The number of properties on the market dropped, and while prices are reported to have risen at the national level, respondents in central London report the eighth consecutive drop in prices.

Read the full survey on the RICS website.