In December 4% more surveyors anticipated an increase in sales rather than a fall in the next three months, down from 18% in November.
Fewer surveyors were confident about the state of the property market in December, the RICS UK Residential Market Survey has found.
In December 4% more surveyors anticipated an increase in sales rather than a fall in the next three months, down from 18% in November.
Price expectations also eased, with only 12% more expecting house prices to rise in the next three months.
But Sentiment was still strong for the next 12 months, as 32% more contributors expected sales to rise and 49% more expected prices to increase.
Richard Sexton, director of e.surv, said: “Although activity flattened last month, this is typical around the festive period as many buyers wait to restart activity in the new year.
“However, even if demand has softened, the problem remains on the supply side. New instructions remain sluggish and with annual house prices rising at an unsustainable rate, too many prospective new buyers are being priced out of the market.
“A new year means new opportunities for change. As we await the government’s Housing White Paper, hopefully further initiative and funding will be applied to help secure home ownership for many hard-working earners.”
Simon Rubinsohn, RICS chief economist, said: “A familiar story relating to supply continues to drive both the sales and lettings markets impacting on activity, prices and rents.
“The eagerly awaited housing white paper should help to create a more positive framework for new build delivery but with the best will in the world, it is going to take time before the resulting uplift in the development pipeline begins to impact on the opportunities for either homebuyers or tenants.
“Meanwhile, the latest RICS survey provides further evidence that both price and rent pressures are continuing to spread from the more highly valued to more modestly valued parts of the market for good or ill.”
