However the RICS UK Residential Market Survey added that prices are still likely to rise despite falling demand.
The market slowed in April – with 22% of chartered surveyors reporting dropping demand after the 3% stamp duty surcharge came into force.
However the RICS UK Residential Market Survey added that prices are still likely to rise despite falling demand.
Simon Rubinsohn, RICS chief economist, said: “Uncertainty is a word that features heavily in the feedback we are receiving from members responding to the survey and is contributing to the flatter trend in the latest data.
“More ominous is the expectation that both prices and rents will head materially higher over medium term despite existing affordability concerns with the supply pipeline continuing to fall short of household growth notwithstanding the various levers the government is pulling to try and drive development.”
