House prices set to continue rising as housing supply reduces
A lack of available properties is pushing house prices up, according to a surveyors report released Thursday 8th July 2021. As a result, a majority of Royal Institution of Chartered Surveyors (RICS) members believe prices will continue to rise during the next year.
The supply shortage suggests the number of new properties coming to market fell by a third in June 2021. All parts of the UK continued to report strong increases in house prices.
With demand increasing and supply continuing to slow, surveyors reported an increase in prices. Looking ahead, it is anticipated that prices will continue to increase over the next twelve months.
Sharp rises
There were notable sharp house rises in Yorkshire, Northern Ireland and Wales, according to surveyors.
But London is presenting a different picture as new buyers have slowed except for larger houses where demand has increased.