New instructions fall for third consecutive month as sales to stock ratio hits record high

Posted on Monday, July 12, 2021

  • The RICS June survey, gauging the mood of agents, points to an increasing scarcity of stock in the market.
  • The measure tracking new instructions to the market has moved deeper into negative territory, the third consecutive month of a fall.
  • With demand and sales volumes remaining high, the sales to stock ratio stands at 59.1%, a record high, compared to a long-term average (2015–2019) of 36.2%.
  • With regards to the outlook for house prices, a net balance of +56 of agents anticipate prices will increase further over the next 12 months. Source: Dataloft, Royal Institute of Chartered Surveyors.