'No spring bounce' in UK housing market

Posted: 14 Jun 2011 13:26:45 GMT

Housing market activity in the UK in May was relatively flat, it has been found.

The UK housing market did not witness the 'spring bounce' in May that many experts had predicted, new figures have shown.

According to the Royal Institute of Chartered Surveyors (Rics) UK Housing Market, the sector remained relatively flat throughout the month, as the lack of mortgage finance and concerns over the economy lingered.

Just five per cent more surveyors reported that sales had risen rather than fallen, with the average number of completed sales per surveyor dipping to 14.7 per cent in the three months to May - a fall of 3.4 per cent.

Ian Perry, housing spokesman at Rics, said: "Buyer interest in purchasing property remains flat across much of the country and there is little sign of this changing any time soon."

Earlier in the month, the Land Registry's latest House Price Index revealed April saw a 0.8 per cent increase in house prices across England and Wales.
 

© Houseladder Ltd