RICS: No signs of a slowdown in house price growth yet

The limited amount of property stock continues to push up house prices despite cost of living concerns, surveyors claim.

The latest RICS Residential Market Survey for April found new buyer enquires edged up during the month but new instructions remain scarce.

The report found 10% more respondents reported a rise in new buyer enquires rather than a fall, the eighth successive month in which the survey has returned a positive net balance.

However, respondents once again reported a subdued trend in listings, with a net balance of -1% of respondents revealing that new listings were falling instead of rising.

Agreed sales were flat having risen in each past two months, returning a net balance of -2% in April.  

RICS warns that this market mood is keeping house prices high.

During the month, 80% of respondents reported an increase in house prices rather than a rise, up from 74% in March.

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