Lack Of Demand Impacting UK Property Market

Lack Of Demand Impacting UK Property Market

A lack of demand from domestic property buyers in the UK means that house prices in the country are likely to remain at the same level as they are currently at until 2012.

This is the opinion of Jon Brown, partnership manager at iammoving.com, who noted that there is a growing trend of people only putting their home on the market when demand is high.

He added that a number of homeowners are opting to take advantage of the buy-to-let market and rent their property rather than sell it.

Indeed, the release of figures from the Royal Institution of Chartered Surveyors appear to support Mr Brown's belief. Statistics from the company show that the housing market remained flat in March.

Across the UK, 23 per cent more chartered surveyors revealed that they had seen prices fall over the course of the month.

"The best case scenario [is that] things will carry on as they are or perhaps improve slightly, but I can't see much of a change in housing prices over the coming months," Mr Brown added.