Despite new figures from the RICS Residential Market Survey showing a rather ‘gloomy’ outlook about the state of the residential property market in the UK, West One Loans predicts that housing market activity and will soon ‘pick up again’.
Low levels of supply and stagnant sales figures have led RICS members to express concern about the immediate future of the housing market, with the latest report stating that 'the UK housing market continues to lack impetus, with new buyer enquiries and agreed sales stagnant in March'.
A low level of housing supply is having a dampening impact on property price growth in many parts of the country. But despite the fact that the housing market continues to be underpinned by a lack of stock, Stephen Wasserman, managing director of West One Loans, believes that market conditions in both the sales and rental sectors will improve in the near term.
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