11
Jul
Housing market remains slow
The housing market in the UK has stalled once again in June thanks
to a drop in demand for home purchases across the country.
According to the latest report from the Royal Institute of
Chartered Surveyors (Rics), in June there were ten per cent more
people who were saying that there was a drop in demand rather than
a rise.
It attributed this to the end of the stamp duty holiday in March.
At that time, the government decided that the one per cent levy on
homes that cost between £125,000 and £25,000 would be
reinstated.
The report also added that a net difference of 22 per cent of
agents said there was a fall in house prices during the
month.
Simon Rubinsohn, Rics chief economist, said: "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."