Uncertainty in the Housing Market in June

The National Association of Estate Agents (NAEA) have reported that although the number of houses on their books fell slightly in June (from 62 in May to 59 on average per branch), the number of house hunters rose from 265 in May to 279 in June, (average figures per branch).

The RICS (Royal Institute of Chartered Surveyors) report gives the opposite picture for June, with the number of house buyers down and housing stock up, which the NAEA puts down to the fact that surveyors enter the home-buying process much later on than Estate Agents. It takes time between a homebuyer registering an interest with an estate agency, and actually deciding on a particular one and instructing a surveyor.

The uncertainty regarding the possible Capital Gains Tax increase may have contributed to the decrease in available properties for sale, as property investors waited to see what the outcome of the budget was, and how it would affect them, before putting investment properties or homes that may be subject to a liability up for sale.

16th July 2010