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Financial News: UK Housing Market Sentiment Improves After Election Result

UK Housing Market Sentiment Improves After Election Result: RICS

01/15/2020 - 22:43:00 (RTTNews)

(RTTNews) - UK housing market sentiment strengthened in December following the result of general election, the Residential Market Survey from the Royal Institution of Chartered Surveyors showed Thursday.

The headline new buyer enquiries indicator rose notably to +17 percent from -5 percent in November.

Likewise, the balance for agreed sales advanced to +9 percent from -6 percent. The score turned positive for the first time since May 2019.

Further, sales expectations improved noticeably both in the near term and for the year ahead. A net balance of +31 percent anticipate transactions to rise in next three months. A net balance of +66 percent of survey participants envisaged sales to increase in the year ahead.

The house price balance climbed to -2 percent from -11 percent, signaling a broadly flat national trend for the time being. House price inflation is anticipated to accelerate going forward.

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