New instructions falls for the thirst consecutive month

• The RICS June survey, gauging the mood of agents, points to an increasing scarcity of stock in the market.
• The measure tracking new instructions to the market has moved deeper into negative territory, the third consecutive month of a fall.
• With demand and sales volumes remaining high, the sales to stock ratio stands at 59.1%, a record high, compared to a long-term average (2015–2019) of 36.2%.
• With regards to the outlook for house prices, a net balance of +56 of agents anticipate prices will increase further over the next 12 months. Source: Dataloft, Royal Institute of Chartered Surveyors.

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