UK Housing Market Improving Slowly

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UK Housing Market Improving Slowly

Reports are saying that the housing market in UK is improving at a steady state but the weaknesses are prevailing. This has been published last night by the Royal Institute of Chartered Surveyors (RICS). There has been a 18% rise in last month as compared to 4% fall in the previous month.

RICS data revealed that there has been a growth and the numbers of new buyers are growing and the numbers are moving into positive after months of negative. Another problem which is faced is the lack of mortgage funding, which is again pulling down the number.

The response has been marginally high. However there are still a lot of improvements required in the entire system. The buyer has risen to 21% in April and the figures were the best since June 2010.

As regards the previous data release, Barclay’s economists sentenced this morning that, “Overall, the confidence indicators suggest sales expectations are positive, while price expectations are negative. However, price expectations are significantly less negative than they were at the start of the year. It is still too early to interpret this as a turning point in the UK house market, in our view.”

Good weather and price drop have earned many buyers in the property market.


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