The UK’s housing stock levels are close to all-time lows, according to the latest research, which has kept house prices suspended at levels which outpace annual wages.
On average, estate agents have just 36 available properties on their books, the RICS Housing Market Survey revealed today.
The average cost of a home remains at swollen highs, despite buyer enquiries and agreed sales shrinking. However, the yearly outlook is getting slightly brighter for first-time buyers.
The survey, used by the government, the Bank of England and other key institutions, including the IMF, as an indicator of current and future conditions in UK residential sales and lettings, added that 12-month forecasts have now eased in each of the last five months.
Onlookers had previously expected prices to grow by 78 per cent by the end of the year, though now expectations are growth of 30 per cent.