There’s a slew of housing news this morning including new research from the Royal Institution of Chartered Surveyors. It predicts that the housing market will make a slow start in 2017 due to a lack of homes for sale.
According to Rics, property transactions have slowed since the spring and although there is a chance they may gather pace in the new year, any rise would be ‘modest’.
Meanwhile, The Guardian reports on the collapse of the capital’s luxury housing market. It cites LCP, a property investment firm, which claims that, thanks to six months of Brexit uncertainty and tax changes, buyers from both Britain and abroad have been deterred from high-end purchases. The paper states: ‘The number of new-build properties sold for more than £5 million in the six months to the end of October was down 83 per cent on the same period of 2015, according to LCP. The number of transactions fell from 52 to just nine.
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