Market comment - RICS survey paints gloomy picture of UK housing market

Davy Research
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This morning’s RICS survey revealed a price balance of zero in March. A slight majority (-3%) of estate agents expect price falls over the next three months. The market is becoming illiquid with new buyer enquiries, new listings for sale and stocks on estate agents’ books all falling in March. London is still the weakest market with a majority of estate agents reporting price falls (-47%) and expecting negative house price inflation over the next 12 months (-37%).