RICS Report

Rinoa

http://www.rics.org/site/download_feed.aspx?fileID=11611&fileExtension=PDF

The February 2012 RICS Housing Market Survey provides further evidence that the price trend for residential property at the national level appears to be stabilising although from a regional perspective, the London market continues to stand out as being particularly buoyant. The better tone to the activity and confidence data remains intact, although anecdotal evidence
from surveyors suggests this is being driven in part by temporary factors i.e. the expiration of the first-time buyer stamp duty exemption in March.

However, the fact that near term expectations have not receded and longer term price expectations are improving suggests other, more fundamental factors are also beginning to play a role in influencing the market, most notably a perception that the downside risk to the economy may have lessened.

Significantly, while the (seasonally adjusted) net price balance remained in negative territory in February at -13 i.e. 13% more surveyors recorded price falls rather than rises, the data that underpins the price balance points to a generally flat picture. Some 68% of surveyors reported no change in prices
(the highest proportion since March 2010) and of those surveyors reporting price falls, 84% of them are doing so within the 0 to -2% range.

About what we expected I guess.

chewmylegoff

Just to save everyone else doing it i will make the perrenial points that are always made on these threads:

1: "Bull" - excellent news, this shows that 87% of surveyors report prices as stable or rising. buy buy buy.

2: "Bear" - excellent news, this shows that 81% of surveyors report prices as flat or falling. timber.

nollag2006

Rinoa wrote: »

http://www.rics.org/site/download_feed.aspx?fileID=11611&fileExtension=PDF


About what we expected I guess.

Really is good to see more evidence of green shoots coming through in the rest of the country.

Here in London, house prices and rents have been ticking up nicely since the crash ended in early 2009

CRASH_BANG_WALLOP

nollag2006 wrote: »

Really is good to see more evidence of green shoots coming through in the rest of the country.

what green shoots dude?

"Regionally, London was again the only part of the country to see prices increase, while surveyors in the West Midlands and Northern Ireland saw the least positive readings," Collett said.

SecondLegDownIsTheBigOne

The national price balance is less negative.

This turd is less smelly.

The (downward) trend seems to be stabilising.

There is a general improvement in 'tone' to 'the survey' though.