A new report said that the lack of supply of fresh rental houses in the UK may see a 25 percent increase in the next three months.
This comes when according to the surveyors, the flow of fresh fare properties in the market has fallen at the fastest rate in five years.
Thirty -one percent surveyors saw new instructions Zamindars Instead of growing, falling, which was the weakest reading since April 2020, the Royal Institution of Surveyors (RICS) Said.
The report stated that with low fare properties in the pipeline, prices are estimated to continue with a net balance of 25 percent in the next three months.
Despite “firmly negative tendency” in landlords Property The report said that available for rent, tenant’s demand remained stable in July in three months.
The report said that given the sales market, the new home buyer came back in July.
The net balance of 6 percent of the property professionals reported the new buyer inquiries instead of growing in July, indicating soft in demand compared to the previous month.
In June, the net balance of 4 percent of professionals saw an increase in fresh inquiries from buyers.
The report stated that the results in various regions seem to be rapidly variable, with the tendency of relatively weak demand in the East Anglia, south east and the southwest of England.
Sales declined in July, with a net balance of 16 percent of professionals, which falls from a balance of 4 percent, referring to the falling sales in June.
Looking forward, those surveys expected to see very low changes in sales over the next few months, with a more positive attitude for 12 months. The net balance of 8 percent of the professionals expects to see a pick-up in sales in the coming year.
The net balance of 9 percent of the survey participants saw an increase in the flow of new property listing in the market in July.
Latest survey also pointed in a small down direction House pricesSeeing the fall in prices, 13 percent of professionals balance.
Its comparison falls in both May and June with a balance of 7 percent.
After going against the broader tendency, prices continue to grow in Northern Ireland and Scotland, while professionals located in the northwest of England are also increasing prices, the report states.
At the other end of the spectrum, prices are allegedly falling at a higher rate than the national average in Eastern Anglia, RICs said.
RICS Chief Economist, Simon Rubinshohan said: “For feedback for the July RICS residential survey, some flattering tones are facing the ongoing challenges housing marketAlthough the latest bank meeting of England reduced interest rates, divided votes have raised doubts about both further cuts and limits.
“Meanwhile, uncertainty about the possible material of the Chancellor Autumn budget It is also increasing some concerns. Against this background, the respondents continue to report that the market is particularly sensitive at the present time. ,
Sarah Coles, Head of Personal Finance, Hargrevs Lansdown Said: “The green shooting of recovery which agents hopes that they were nourishing in June, have dried up in July, demanding, falling, less agreed sales, and slightly fall in house prices. The market always becomes silent during summer holidays, but it is more than one death than usual.”
He said: “We are currently firmly in the market of buyers, so there is a real opportunity to make a bargain. Anyone who was wooed to take a dip in his emergency savings to promote his budget, is a chance to be organized again.”
Ms. Kols said: “As the tenant’s demand remains stable, it still means that more people are chasing less houses, and the fugitive era of fugitive rent has not ended yet.
“HL (Hargravs Lansdowne) savings and flexibility barometer suggests that it is incredibly difficult at all – so only £ 62 is left at the end of the month in the average rental house. However, it is especially terrible Tenant Living on your own – which ends the month with a £ £ 24. Every indication is that one of them has been pushed as far as it is possible for them to go.
“When the money is so tight, it is incredibly difficult to cover your costs, let alone do anything separate for a property deposits. However, if you can’t make anything, there is a risk that you will ever close in a growing rented cycle.
“This means that it is worth considering all your options. It can include anything from making a big agreement where you stay back home for a period. There are also options that do not require any of these sacrifices, such as asking family for help, or promoting your deposit from the government through a lifetime.”
Tom Bill, head of the UK residential research at Knight Frank, said: “The Housing Market is killing a series of obstacles this year. The April Stamp Duty Cliff Edge was the first and now buyers and sellers are unresolved by the re -run of the game of ‘Autumn Growth’ last year.
“We had a cut in the interest rate in this month, but it was priced and the comprehensive economic mood is making delicate. The supply still especially meets demand, which is also keeping a lid at prices.”
On Wednesday, Financial Information Website Moneyfacts Said that the average two-year-old fixed-rate hostage on the market was reduced by 5 percent for the first time before the so-called mini-judgment of former Prime Minister Liz Trus.
Moneyfacts said that on Wednesday, the average two-year fixed homeowner mortgage rate was 4.99 percent. It was below 5.00 percent from the previous working day.
North London Estate Agent Jeremy Leaf said: “Agreed sales are mostly holding, supported by falling mortgage rates and a stable employment environment.”
On the Letings Sector, Mr. Leaf said: “We saw that the demand has decreased in the last one month, especially for two-bed flats in old buildings, with more interest in modern, low maintenance properties.”
