Property outlook for 2018 upbeat

Property outlook for 2018 upbeat

The next 12 months is looking upbeat for the property market, according to a new survey.

A survey from the Royal Institution of Chartered Surveyors (RICS) shows although sales across the UK were flat in December, many surveyors are feeling positive about the coming year.

There seemed to be more positively about future appraisals, with 23 per cent expecting an increase compared to the end of 2017.

In terms of letting, there was a fall in demand from tenants during December, but the decline was less than expected. However, a lack in properties coming to the rental market means rental growth is expected to increase over the next three months.

Simon Rubinsohn, RICS chief economist, added the recent stamp duty changes do not seem to have had any substantial impact on the market’s activity.

However, he added: “Challenges over affordability may have grown across the UK but they are clearly having a bigger impact in some parts of the country than others. This is clearly evident in the sales expectations figures which still remain in positive territory in more than half of the areas surveyed in the report.”