DAVY VIEW

This morning’s Royal Institution of Chartered Surveyors (RICS) survey shows the UK housing market clearly suffering a hangover from the end of the stamp duty holiday in terms of transactional activity, with agreed sales down for a fourth consecutive month, but not in terms of pricing. The limited pool of homes listed for sale is still creating competition amongst buyers, with the price balance still elevated at +68% and 12-month price expectations at +71%.