Andy Sommerville, Director at Search Acumen, comments on the latest RICS Residential Market Survey for June 2017:
“Prospective buyers are treading on eggshells, but four straight months of decline in newly agreed sales doesn’t reflect a negative sentiment in the market. People want to buy. We just have a chronic shortage of housing and the government is failing to provide the antidote.
“New lows of stock and flat sales trends suggest our market is nearly running on empty as the political rollercoaster rumbles deep into 2017. Once again, we call on the government to stop talking, and start building.
“Fundamentally, the housing market is not broken – it just needs action rather than words. We must provide our housebuilders with the resource required to revive the market, finally addressing the deepening crevasse between supply and demand, offering a glimmer of opportunity to our first time buyers.”