Search
 

Housing Market Eases in England and Wales

LONDON-The RICS housing market survey for the three months to May 2002 shows that the market is at last cooling.

By Charlie Jacoby | Updated on June 20, 2002

LONDON-The first signs of a slowdown in the housing market have appeared, says the Royal Institution of Chartered Surveyors in its latest residential property survey. House prices continue their upward trend, but the pace of increase has stabilised for the first time for five months, with the rate of increaseremaining the same as in the previous month.

A shortage of suitable homes on the market still remains the biggest problem. The average number of properties per surveyor fell for the third consecutive month. The ratio of completed sales to unsold stock rose to 64%, the highest since August 1988.

The number of completed sales fell back. The average number of sales per surveyor dropped to 36, down one from last month. Sales are little changed since February, but have stayed close to the highest levels recorded since December 1989.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.