Agents view of the sales market

The RICS September survey, gauging the moods of agents continues to point to a strong upturn in the sales market. New buyer enquiries, new instructions and newly agreed sales remain firmly positive. In September a net balance of +52% of agents reported an increase in new buyer enquiries, the fourth consecutive positive reading, albeit lower than previous months. Newly agreed sales also continues to be positive, +55%, rising across all parts of the UK. +39% of agents reported an increase in new instructions, this is the longest stretch of rising supply since 2013. Agents still foresee sales volumes weakening further ahead, the twelve month sales expectations have become more negative with -35% of agents expecting a decline. 12 month price expectations are more positive, +20% of agents expect an increase.