Housing market is ‘still in the doldrums’

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THE local housing market remains flat, according to a new report released today.

The RICS UK Housing Market Survey found the market in the south east did show some promise in June, with demand rising and new properties coming onto the market falling.

There was also increased interest from potential buyers last month, but overall there has been little improvement in the housing market since the expiry of the stamp duty holiday in March. House prices across the UK continued to fall last month.

Peter Bolton King, RICS housing spokesperson, said: ‘The housing market didn’t manage to turn a corner last month and activity remained in the doldrums.

‘Fewer vendors looked to test the market and levels of buyer interest seem to have fallen back since the expiry of the stamp duty deadline earlier in the year.

‘Although there is some positivity that the amount of sales going through is going to see an increase, it is unlikely that we will see any real movement until purchasing a property is more affordable and accessible for the likes of first-time buyers.’