The Royal Institution of Chartered Surveyors said its headline house price balance slumped to -32% in May, its lowest since 2010, from -22% in April.
But expectations for house prices in 12 months’ time were less negative than a month earlier and new buyer enquiries recovered from a record low of -94% in April to -5% in May.Property website Zoopla said on Wednesday that house sales in England had rebounded since the government allowed estate agents to reopen last month.
RICS Chief Economist Simon Rubinsohn said sales that were in the pipeline before the lockdown were now largely going through. “But it remains to be seen how sustained this improvement will prove,” he said, pointing to uncertainty about a possible jump in unemployment when the government’s jobs retention programme expires at the end of October.The survey also showed buyers, after their lockdown experience, were looking increasingly for properties with gardens or balconies and located nearer to green spaces.
Source: News Formal (newsformal.com)
Real estate sinks in UK to a 10 year low. You can expect the same in India sooner than later. The prices have been held on to for long like the holding of the straw for survival in the ocean.
With no deal Brexit looming, dream on.
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