RICS - April - Market continues to Improve

HAMISH_MCTAVISH

The April 2011 RICS Housing Market Survey shows a broad based improvement in market conditions over the month, but the picture overall remain very subdued.

The price balance improved to its highest level since July 2010, but it still remains negative i.e. more respondents are seeing price falls rather than rises. However, the detail of the survey shows that of those respondents seeing price falls, the vast proportion (82%) are reporting declines within the 0%-2% margin.

The improving activity climate was also reflected in the average number of complete sales and stocks (per branch). The former increased by 6.1% on the month to 15.2; the highest since last December but still well below the long run average of 26.5.

Meanwhile, average stocks increased by 1.5% on the month to 66, but this is still well below the long run average of 83.5.

Given the more that proportionate increase in sales during December, the sales to stock ratio increased to 23.1%, the highest reading since last August but still below the long run average of 33.5%.

So, prices stable in most of the UK, falling in a few areas, rising in slightly fewer areas.

Except of course in Scotland... Where prices are rising in over twice the number of areas in which they are falling. (But are still stable in most areas) Now I'd previously have written this off to Scotland's increased level of seasonality, but geneer has reliably informed me that no such thing exists.

So we must just be special.

Anyway....

Continued improvements in the sale per agent and sales to stock ratio.

Of more interest are the regional breakdowns.

Scotland, for example, saw 2 surveyors reporting price increases of +2% to +5% in the last 3 months, another 8 surveyors reporting price increases of up to +2%, a further 86 surveyors reported stable prices, and just 4 surveyors reported falling prices.

You can find your own regional survey on page 6 here......

http://www.rics.org/site/download_feed.aspx?fileID=9520&fileExtension=PDF

DaddyBear

Increased activity does not neccesarily mean increased prices.

HAMISH_MCTAVISH

DaddyBear wrote: »

Increased activity does not neccesarily mean increased prices.

Indeed.

Which is why RICS split it into two measures. The one with activity, and the one with prices.

You can find your regions price related measure on page 6 at the link above.

chucknorris

HAMISH_MCTAVISH wrote: »

So, prices stable in most of the UK, falling in a few areas, rising in slightly fewer areas.

Except of course in Scotland... Where prices are rising in over twice the number of areas in which they are falling. (But are still stable in most areas) Now I'd previously have written this off to Scotland's increased level of seasonality, but geneer has reliably informed me that no such thing exists.

So we must just be special.

Anyway....

Continued improvements in the sale per agent and sales to stock ratio.

Of more interest are the regional breakdowns.

Scotland, for example, saw 2 surveyors reporting price increases of +2% to +5% in the last 3 months, another 8 surveyors reporting price increases of up to +2%, a further 86 surveyors reported stable prices, and just 4 surveyors reported falling prices.

You can find your own regional survey on page 6 here......

http://www.rics.org/site/download_feed.aspx?fileID=9520&fileExtension=PDF

Thanks Hamish, I accidently deleted this from my work mailbox yesterday because it was near capacity (the RICS sends me so many emails I sometimes delete them a little too quickly).

Seems quite good news for London and also for my main area Battersea:

It is an extremely strong sales market
and Battersea alone increased by 7.5%
in March. Buyers are falling over
themselves to compete for the best
properties. Record prices are being

achieved 5 - 10% above the 2007 high.

1984ReturnsForReal_2

.............................

shortchanged_2

London and London alone. The rest of the country is shafted.

chucky

shortchanged wrote: »

London and London alone.

that suits me fine.

i guess it will have to be more canapes with the cristal this evening.

HAMISH_MCTAVISH

shortchanged wrote: »

London and London alone. The rest of the country is shafted.

Far from it.

London, Scotland and The North all saw a positive price balance, with more surveyors reporting rising prices than falling prices.

And in all regions, the majority of surveyors report stable prices, with only a few reporting falls or rises.

lemonjelly

The price balance improved to its highest level since July 2010, but it still
remains negative i.e. more respondents are seeing price falls rather than
rises. However, the detail of the survey shows that of those respondents
seeing price falls, the vast proportion (82%) are reporting declines within the

0%-2% margin.

The key message from the confidence indicators remains unchanged in
April; sales expectations are positive, while price expectations are negative.
However, price expectations are significantly less negative than at the start

of the year.

Seems to me that a few more people are out seeing if they can bag a theoretical bargain. However whilst more are looking, it isn't the case that more are buying. The tightness of mortgage availability currently is no doubt going to be affecting actual sales.

chucky

lemonjelly wrote: »

Seems to me that a few more people are out seeing if they can bag a theoretical bargain. However whilst more are looking, it isn't the case that more are buying. The tightness of mortgage availability currently is no doubt going to be affecting actual sales.

exactly, no one can deny that there are more people out there looking to buy.
if they can get the finance to buy is another thing.

if people do buy where are the people that sold going to live... i know!!! they'll be buying too!!!

abaxas

HAMISH_MCTAVISH wrote: »

Far from it.

London, Scotland and The North all saw a positive price balance, with more surveyors reporting rising prices than falling prices.

And in all regions, the majority of surveyors report stable prices, with only a few reporting falls or rises.

Things have definitely picked up in the NE. Someone bought a house in March hence the figures are now infinity higher.