According to the latest monthly RICS [Royal Institution of Chartered Surveyors] UK Residential Market Survey, the South East continues to show a subdued housing sales market with a lack of newly agreed purchases and new
buyer enquiries.
During the month of October, 21 per cent of agents in the region reported a fall in new buyer enquiries, with newly agreed sales remaining negative for the third month in a row.
Across the UK, sales dipped across virtually all parts of the country apart from Northern Ireland, where there was a reported marginal increase.
Simon Rubinsohn, RICS Chief Economist, said the latest survey suggests both buyer and seller activity remains in a holding pattern, ‘hampered by political and economic uncertainty’.
He said: “Given the upcoming General Election next month, it appears unlikely that these trends will pick up to any meaningful extent over the remainder of this year.”
However, a Tunbridge Wells property lawyer says the royal town is ‘bucking the trend’ and the local housing market continues to be upbeat.
Jennifer Irving, Head of Residential Property at CooperBurnett, said: “Despite all the uncertainty in the media about the economy and Brexit,
we have seen Tunbridge Wells and the surrounding area buck the trend as regards residential property.”
She continued: “Tunbridge Wells continues to be somewhere people want to move to, and that’s often because of how family-friendly the town is and the great schools here, coupled with the fairly straightforward commute into London, plus the countryside on our doorstep and the coast not too far away.”
