Agents view – New instructions fall
In this speed read, we look at the current level of property stock across the country and what this means for prices
- The RICS June survey, gauging the mood of agents, points to an increasing scarcity of stock in the market.
- The measure tracking new instructions to the market has moved deeper into negative territory, the third consecutive month of a fall.
- With demand and sales volumes remaining high, the sales to stock ratio stands at 59.1%, a record high, compared to a long-term average (2015–2019) of 36.2%.
- With regards to the outlook for house prices, a net balance of +56 of agents anticipate prices will increase further over the next 12 months. Source: Dataloft, Royal Institute of Chartered Surveyors.