The hoped-for spring bounce in the housing market failed to occur during May, as fears over the economy and lack of mortgage finance continued to depress activity levels, according to RICS.
The Royal Institute of Chartered Surveyors' (RICS) latest housing market survey showed new enquiries from potential buyers fell slightly during May, down to a reading of -2. The reading for April was level, which improved on the March reading of -6. RICS housing spokesperson, Ian Perry said: "Buyer interest in purchasing property remains flat across much of the country and there is little sign of this changing any time soon. Uncertainty over the economic outlook remains as important as the availability of mortgage finance in depressing demand.” Newly agreed sales fell with just 5% mor...
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