-RICS UK Jul-Sep Net House Price Balance -15 vs -18 in Jun-Aug
LONDON (MNI) – Housing market activity is expected to pick-up
markedly in the coming months, perhaps reflecting the impact of the Bank
of England’s Funding for Lending Scheme, according to the Royal
Institution of Chartered Surveyors.
The September RICS survey showed house price balances rose only
slightly, with the July through September net price balance rising to
-15 from -18 in June through August. The October through December price
expectations balance ticked up to -9 from -12.
The October through December sales expectations balance, however,
rose sharply, increasing to 26 from 13 – its highest level since May
2010.
“The FLS may be having some… impact,” a RICS spokesperson said.
The September new buyer enquiries balance, another forward looking
activity indicator, climbed to 4 from -7.
If the rise in activity expectations is due to the FLS, it is
unclear why it would not have boosted year ahead activity expectations.
The 12-month sales expectations net balance in the September survey
actually dipped to 13 from 15.
The RICS survey, based on the balance of surveyors reporting rises
or falls in prices and activity, is a measure of how widespread changes
are rather than showing their magnitude.
Other house price surveys have shown modest house price falls in
September, with the Halifax survey recording a 0.4% drop on the month
and a 1.2% fall on the year and the Nationwide survey also showing a
0.4% drop on the month.
-London newsroom 0044 207 862 7491; email: drobinson@marketnews.com
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