General Election nerves and a lack of supply causing property sales to flatline
An uncertain General Election, combined with supply constraints, has led to flatlining property sales and enquiries.
The latest survey by the Royal Institution of Chartered Surveyors (RICS) shows that London saw a decline in both enquiries and sales for the 11th month in a row.
Simon Rubinsohn, RICS chief economist, said: “Anecdotal evidence does suggest that election uncertainty may be having some impact on the market.”
He said there is “a very real housing crisis which will urgently need to be addressed by the next government.”
Another survey, by valuation provider e.surv, revealed that there was a 2.4 per cent decline in loans for house purchase in March.
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