The housing market is experiencing a dearth of sales similar to the early days of the pandemic, according to the latest RICS survey.
A net 44% of respondents said there had been a decline in sales agreed in July, down from 36% in June. The figure is the most recorded by RICS since spring 2020, when the housing market was effectively shut.
Sales have fallen across all regions, as have enquiries, with a net 45% saying enquiries from new buyers had fallen again last month.
A net 25% of estate agents believe their deal pipelines will be smaller in 12 months’ time than they are now.
