UK surveyors have reported a fall in buyer enquiries for May, indicating a fall in demand for housing, according to the RICS. The reported decline in buyer demand is the first registered in its UK Residential Market Survey, which was released today, in eight consecutive months.
The latest data from the ONS)found that household savings during the pandemic reached their highest level between April and June 2020. The household savings ratio, which calculates the amount of money households have saved in relation to their total disposable income, peaked at 23.9% in this period.
Price reductions for UK properties are on the rise, with one in 20 listed properties reducing their asking price by 5% or more in April to mid-May. By contrast, just one in 22 properties experienced this type of house price cut during the previous month, according to Zoopla, a real estate company.
Rishi Sunak to pay for £15bn cost of living package with windfall tax proactiveinvestors.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from proactiveinvestors.co.uk Daily Mail and Mail on Sunday newspapers.