Posted on Wednesday, April 20, 2022
- More choice is returning to the housing market, with agents reporting a rise in new instructions in both the sales and lettings markets.
- The net balance of respondents reporting a rise in new sales instructions was positive for the first time in a year. Letting instructions were positive for the first time since July 2020 (latest RICS survey March 2022).
- Demand for properties to buy and rent remains high, however, and a continuing shortage of properties is likely to underpin price growth. Despite economic headwinds, price growth seems set to remain in positive territory over the next year.
- The RICS net balance score is based on the proportion of survey respondents reporting a rise, less those reporting a fall in instructions. Source: Dataloft, The Royal Institution of Chartered Surveyors (net balance of survey participants)