Search Acumen comments on RICS residential market survey
Andy Sommerville, director of Search Acumen, comments on the RICS residential market survey for June:
“A record drought in housing stock per surveyor is yet another indication that piecemeal housing policies are equivalent to putting a plaster on a tumour.
“The key issue of increasing housing supply needs to be addressed by the government when it comes to solving the housing crisis. The latest reforms announced in the summer budget, such as restricting buy to let tax relief, may provide some comfort to first time buyers, but this could equally lead to a hike in rents: another blow for those aspiring young people trying to save up enough to get on the property ladder. In the meantime, we wait for more promising news on solving the housing crisis in Friday’s announcement on planning reforms.
“The rise in buyer enquiries is a welcome sign that demand for homeownership remains strong and lenders’ willingness to do business provides further reason for cheer in the second half of 2015. In the meantime, with little movement in housing stock, conveyancers need to strengthen their offering with a thorough review of systems and processes to get business through the door.”
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