SALES NEWS: It’s a sellers’ market thanks to a shortage of supply
One of the most authoritative monitors of the housing market says the ball is firmly in the court of sellers in the coming months thanks to a shortage of homes on sale.
The Royal Institution of Chartered Surveyors says the stock on the market of most estate agents is nearing a historic low, even taking into account the winter weather – and the East of Exe agency can confirm a similar trend in the Exeter and East Devon areas.
With the traditional sales season of spring approaching fast, anyone considering marketing their home could do so in the knowledge that buyers outnumber sellers in almost every area of the country, the RICS’ latest survey shows.
The institution anticipates that over the next five years house prices are likely to rise by just under 20 per cent on average across the UK – although with significant local variations – while average rents are forecast to increase by around 25 per cent in the same period.