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Financial News: UK Housing Market Activity Improves In January: RICS

UK Housing Market Activity Improves In January: RICS

02/13/2020 - 05:32:00 (RTTNews)

(RTTNews) - UK housing market activity improved in January with demand, sales and fresh listing all moving into positive territory, survey data from the Royal Institution of Chartered Surveyors, or RICS, showed Thursday.

The house price balance rose to +17 percent in January from -2 percent in December. This pick-up was positive price movements in London and the South East.

Expectations point to house price inflation gathering pace, both in the near term and over the year to come.

The survey showed that a net balance of +23 percent of participants reported an increase in demand in January compared to +19 percent in December.

Agreed sales also increased for a second month in succession at the national level, evidenced by a net balance of +21 percent of respondents reporting an increase, RICS said.

Further, the balance for new instructions coming onto the market climbed to 19 percent from 11 percent in December.

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