BIGGEST CHALLENGES FACING THE HOUSING MARKET AT PRESENT

With just days to go before the UK was expected to leave the EU, we seem no closer to a solution than when Article 50 was triggered almost two years ago. It is little wonder therefore, that uncertainty is expected to continue to impact the housing market. However, the second biggest challenge facing the housing market at present is the lack of properties available to buy, a factor that is viewed as more significant than affordability concerns. Agents in the latest RICS UK Residential Market Survey report that new instructions fell again in February, with the average number of properties available to buy per agent, returning to a record low. As the spring market gets underway, buyers will be hoping that potential vendors will be able to look beyond the current uncertainty and help to get the market moving again.