{"id":22341,"date":"2018-12-13T11:23:17","date_gmt":"2018-12-13T11:23:17","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=22341"},"modified":"2018-12-13T11:23:17","modified_gmt":"2018-12-13T11:23:17","slug":"rics-november-brexit-caution-fall-in-home-seekers","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-us\/2018\/12\/13\/rics-november-brexit-caution-fall-in-home-seekers\/","title":{"rendered":"Brexit caution behind fall in new home seekers says RICS report"},"content":{"rendered":"
Brexit and the uncertain economic outlook lay behind a fall in in numbers of people looking for a new home in November, according to the Royal Institute of Chartered Surveyors\u2019 (RICS) latest statistics.<\/strong><\/p>\n The number of new enquiries fell by 21% last month, down from 15% recorded in October. The net balance of newly-agreed sales also fell, from -10% to -15% in the survey where RICS members answer 19 questions.<\/p>\n And for the fifth month in a row, the amount of new properties being listed for sale fell with a figure of -24% the steepest fall in the survey since the summer of 2016. The price balance was at -11%, compared to -10% in October.<\/p>\n Simon Rubinsohn, RICS Chief Economist said: “It is evident from the feedback to the latest RICS survey that the ongoing uncertainties surrounding how the Brexit process plays out is taking its toll on the housing market. Indeed, I can’t recall a previous survey when a single issue has been highlighted by quite so many contributors.”<\/p>\n The survey was carried out before this week\u2019s latest instalment of Brexit-related turmoil, which has seen Prime Minister Theresa May call off a vote in Parliament<\/a> on her proposed Brexit deal and win a vote of confidence in her from Conservative Party MPs.<\/p>\n But it is hard to see much change in the sentiment behind some of the comments in the RICS publication. One Wilmslow-based agent says, \u201cEverybody is holding their breaths. If we have a soft landing, next year will be reasonable. If not, all bets are off.\u201d<\/p>\n Another, in the West Midlands, sums up the cautious scene at the moment by stating,<\/p>\n \u201cBrexit still casting a massive shadow on the market; until aspirational purchasers know the impact of the changes, they will watch from the sidelines.\u201d<\/p><\/blockquote>\n And another’s feelings were summed up in the single word posted as their response – “Brexit”.<\/p>\n But as with previous RICS surveys, regional variations apply<\/a> and the November figures show modest price rises in the North West, West Midlands, Yorkshire & Humber, Wales, Northern Ireland and Scotland.<\/p>\n‘All bets are off’ – industry reaction to Brexit uncertainty<\/h4>\n