Andy Sommerville, Director at Search Acumen, comments on the latest RICS Residential Market Survey for July 2017:
“The shadow over the housing market is leaving no corner untouched as the stagnation that has been affecting London and the South East markets begins to spread and bring the UK housing market even closer to a standstill.
“Urgent action is required to prevent the inertia spreading. Growth outlooks have been downgraded and consumer spending is at its worst level in four years. Without action to support increased market activity, the downward trajectory of property values will only rumble on.
“Some are blaming Brexit, others blaming tax changes, but the bottom line is that there are not enough affordable homes for sale.”
This article was submitted to be published by Search Acumen as part of their advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.