Dwindling supply of homes is pushing up house prices, say surveyors 13/05/2021, 12:06 am
House price growth accelerated across the UK in April amid a slowdown in the supply of homes, according to the Royal Institution of Chartered Surveyors (Yui Mok/PA)
House price growth accelerated across the UK in April amid a slowdown in the supply of homes, according to surveyors.
A net balance of 44% of property professionals saw buyer inquiries pick up last month, the Royal Institution of Chartered Surveyors (Rics) said.
For the first time this year, positive growth was reported in new buyer demand across every region.
And a balance of 75% of surveyors noted house prices increasing rather than decreasing.
Submitting.
For the first time this year, positive growth was reported in new buyer demand across every region.
But a lack of fresh property listings was the biggest concern cited in the latest survey – with many saying it was not nearly enough to match the interest shown by potential buyers.
Professionals reported that new instructions from home owners looking to sell up eased significantly, with an overall net balance of 4% reporting a decline.
The survey findings suggested a growing number of professionals expect house prices to increase over the next three months.
Looking to 12 months’ time, a balance of 68% of surveyors anticipate house prices will have increased rather than decreased.
UK house price growth accelerates as supply of new homes coming to market dwindles
UK house price growth accelerated last month due to a slowdown in the supply of new homes coming to market, according to the latest research.
A survey carried out by the Royal Institution of Chartered Surveyors (Rics) showed that 75 per cent of respondents reported an increase in UK house prices.
The figure is up from 62 per cent in March, and is the highest growth seen over the last three months.
More respondents also predicted prices continuing to rise over the next quarter, with 47 per cent saying they would compared to 43 per cent in the previous month.
May 13, 2021, 12:05 am
House price growth accelerated across the UK in April amid a slowdown in the supply of homes, according to the Royal Institution of Chartered Surveyors (Yui Mok/PA)
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House price growth accelerated across the UK in April amid a slowdown in the supply of homes, according to surveyors.
A net balance of 44% of property professionals saw buyer inquiries pick up last month, the Royal Institution of Chartered Surveyors (Rics) said.
House prices increased by 8.2% annually in April, says Halifax 10/05/2021, 9:20 am
House prices surged by almost £20,000 annually in April, passing a record high set the previous month, according to Halifax (Gareth Fuller/PA)
House prices surged by 8.2% annually in April, passing a record high set the previous month, according to an index.
Across the UK, the average house price in April was £258,204, Halifax said.
Property values increased by 1.4% month on month.
Halifax predicts that the pace of house price growth will slow later in the year.
Russell Galley, managing director, Halifax, said: “House prices in April eclipsed the record high set the month before (£254,604) as the market continued to maintain its recent momentum.