Agents'view of the sales market
In this short article we look at Agent's reporting a 39% increase of New Instructions to market
- The RICS September survey, gauging the moods of agents continues to point to a strong upturn in the sales market. New buyer enquiries, new instructions and newly agreed sales remain firmly positive.
- In September a net balance of +52% of agents reported an increase in new buyer enquiries, the fourth consecutive positive reading, albeit lower than previous months. Newly agreed sales also continues to be positive, +55%, rising across all parts of the UK.
- +39% of agents reported an increase in new instructions, this is the longest stretch of rising supply since 2013.
- Agents still foresee sales volumes weakening further ahead, the twelve month sales expectations have become more negative with -35% of agents expecting a decline. 12 month price expectations are more positive, +20% of agents expect an increase. Source: Dataloft, Royal Institution of Chartered Surveyors