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July 2011 RICS UK Housing Market Survey

London continues to outperform rest of UK

• House prices continue to decline Prices - England and Wales - change over past 3 months • Price expectations negative albeit less so than previous month Net balance, % (SA) • London steams ahead with rising prices 100 Rising The July RICS UK Housing Market Survey highlights three key trends. 75 Firstly, prices continue to fall on balance, with more surveyors reporting

declines rather than increases. Secondly, activity levels remain pretty flat 50 (and depressed), with new buyer enquiries and new vendor instructions not recording much movement. Lastly, July reinforced the divergence between 25 London and the rest of the country, with house prices continuing to rise in the capital. 0

-25 The headline house price net balance remained in negative territory, moving

from -26 to -22 i.e. 22% more surveyors recorded falling rather than rising -50 prices. That said, of those reporting price falls, 82% did so in the 0 to -2% range. -75

-100 Falling On the demand side, new buyer enquires edged up slightly in July, with the 1997 1999 2001 2003 2005 2007 2009 2011 net balance rising from +1 to +5. Meanwhile, new vendor instructions fell Source: RICS slightly, with the net balance falling from 0 to -7. Prices - regional breakdown - change over past 3 months Turning to activity levels, the average number of sales per surveyor (branch) Net balance, % (SA) fell by 3.8% on the month to 14.2. This remains well below the long run

average of 26.3. Meanwhile, the average amount of stock on surveyors’ 30 Net balance, % Rising books edged up by 0.7% to 70.2. Due to the fact that stocks increased and sales fell, the sales to stock ratio declined to 20.2%. This is well below the 20 long run average of 33.4%, suggesting considerable slack in the market remains. 10

0 Regionally, the capital continues to stand out from the rest of the country,

with the price balance increasing from +21 to +30, the highest reading since -10 May 2010. The West Midlands, East Anglia and Yorkshire & Humberside recorded the most severe price falls. Outside of England and Wales, -20 surveyors in Scotland and Northern Ireland continued to report falling house prices. -30

Finally, the forward looking components of the survey showed price -40 expectations turned less negative whilst sales expectations remain Falling -50 unchanged, in positive territory. WM EA YH North SW EM Scot Eng+W Wales NW SE Lon Source: RICS

Proportion of surveyors reporting a rise, fall or Prices Stocks of Completed no change in house prices over the last three months homes on books sales* Rise % Same % Fall % Balance** Balance** ------Average per Surveyor------Not Seasonally Adjusted------Seasonally Adjusted------

May-11 10 57 33 -23 -28 72 15 Jun-11 10 58 32 -22 -26 70 15 Jul-11 10 57 32 -22 -22 70 14 * House sales over the past three months ** Net balance = Proportion of surveyors reporting a rise in prices minus those reporting a fall (if 30% reported a rise and 5% reported a fall, the unadjusted net balance will be 25%) Figures may not sum up to 100% due to rounding errors. All figures in table refer to England and Wales only. Total number of survey contributors = 250 (Covering 405 offices)

Prices - England and Wales - change over past 3 months Net balance, % (SA) 100 Rising The headline net price balance edged up in July, 75 moving from -26 to -22, but remains in negative

50 territory.

-25

-50

-75

-100 Falling 1997 1999 2001 2003 2005 2007 2009 2011

Source: RICS

New buyer enquiries- England and Wales - change over past month Net balance, % (SA) 80 The new buyer enquiries net balance increased 60 from +1 to +5.

-20

-40

-60

-80 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

New vendor instructions - England and Wales - change over past month Net balance, % (SA) 50 New vendor instructions declined in July, with 40 the net balance decreasing from 0 to -7.

-10

-20

-30

-40 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Property sales in England & Wales, during last three months Number, average per surveyor (branch) 40 The average number of sales per surveyor de-

35 clined to a 2 year low this month, falling from 14.7 to 14.2. 30

5 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Unsold stocks of properties on surveyors’ books, Eng & Wales Number, average per surveyor (branch), end period 120 The average stock on surveyors’ books edged

110 up in July, from 69.7 to 70.2.

100

50 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Ratio of sales to unsold stocks on surveyors’ books England and Wales, %

70 The sales to stock ratio declined from 21.2% to 20.2%. 60

10 1996 1998 2000 2002 2004 2006 2008 2010

Sales expectations - England and Wales - change over next 3 months Net balance, % (SA) 60 The sales expectations net balance remained unchanged in July, with the net balance at +15. 40

-20

-40

-60 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Price expectations - England and Wales - change over next 3 months Net balance, % (SA) 100 The price expectations net balance increased

75 from -25 to -13, but remains in negative territory.

-25

-50

-75

-100 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Newly agreed sales - England and Wales - change over past month Net balance, % (SA) 60 The newly agreed sales net balance remained broadly unchanged this month, moving from +6 40 to +5.

-20

-40

-60 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Prices - England and Wales - change over past 3 months Newly agreed sales - England and Wales - change over past month Net balance, % (SA) Net balance, % (SA) 30 Net balance, % Rising 50

20 40

10 30 0 20 -10 10 -20

0 -30

-40 -10

-50 -20

Falling -60 -30 WM EA YH North SW EM Scot Eng+W Wales NW SE Lon WM NW Scot EM YH Wales Lon Eng+W EA SE North SW Source: RICS

New buyer enquiries- England and Wales - change over past month Completed sales per surveyor, over past 3 months Net balance, % (SA) Number, average per surveyor (England & Wales)

40 20 30

10 0

-10

-20

-30 0 WM EA North EM YH NW Scot SE Eng+W Wales SW Lon EA Wales Lon North SW Eng+W YH NW SE WM EM

New vendor instructions - England and Wales - change over past month Current inventory of stock on surveyors books Net balance, % (SA) Number, average per surveyor (England & Wales)

30 140

20 120

10 100 0

-10 80

-20 60

-30 40 -40

20 -50

-60 0 EA EM YH SW WM Eng+W Wales SE North Scot NW Lon Lon EA SE SW Eng+W North WM YH EM NW Wales

Key: N = North, YH = Yorkshire & Humberside, NW = North West, EM = East Midlands, WM = West Midlands, EA = East Anglia, SE = South East, SW = South West, W = Wales, L = London, Scot = Scotland

Sales expectations - England and Wales - change over next 3 months Price expectations - England and Wales - change over next 3 months Net balance, % (SA) Net balance, % (SA)

40 30

20 30

20 0

10 -10

-20 0

-30

-10 -40

-20 -50 North WM YH W EM Scot NW Eng+W EA SE Lon SW EM WM North YH EA Wales Eng+W Scot NW SE SW Lon

Key: N = North, YH = Yorkshire & Humberside, NW = North West, EM = East Midlands, WM = West Midlands, EA = East Anglia, SE = South East, SW = South West, W = Wales, L = London, Scot = Scotland

Regional Price Summary, United Kingdom Proportion of surveyors reporting changes in price over last three months*

Price rise ------Price fall ------Price change (%) by band > +8, +5 to 8, +2 to 5, 0 to +2, Same, 0 to -2, -2 to -5, -5 to -8, < -8 Balance**

North 0 0045142400 -42 Yorkshire & Humberside 0 0025730650 -39 North West 0 0096424200 -17 East Midlands 6 0025233240 -32 West Midlands 0 0015538410 -43 East Anglia 0 0115537230 -40 South East 0 3036424510 -25 South West 0 0055531820 -35 Wales 0 0007423400 -26 London 0 4 8 32 46 5 1 2 1 34 Scotland 0 0186524200 -17 Northern Ireland 0 00248281066 -48 * Not Seasonally Adjusted ** Balance = the percentage of surveyors reporting a rise, minus those reporting a fall. Numbers may not add up due to rounding

Charts and data are available to the media on request. Contact the RICS Press Office on: 020 7695 1682 / 020 7334 3736. Please do not contact the press office for non-media related enquiries. RICS Housing Market Survey July 2011 Chartered surveyor market comments Ben Hudson MRICS, Hudson Moody, Toby Millbank MRICS, Strutt & Parker, Jonathan Clayton FRICS BSc, Bentley North York, Yorkshire, 01904 650650 - A Harrogate, North Yorkshire, 01423 Higgs & Co., Blackpool, Lancashire, steady market, but at least turnover is 561274 - We are seeing a huge void 01253 302928 - Relatively quiet market Andrew Bell FRICS BSc, North, 07970 slowly returning. between those houses that are ‘best in with static prices + values on 842020 - We are only involved in a class’ achieving excellent results with expectation of 0.5% interest rates over very small way in actual house sales, Bill Dale MRICS, Dale Eddison, Ilkley, competitive bidding on most occasions next 8-12 months. If and when interest but through other aspects of general West Yorkshire, 01943 817 642 - and those with a perceived problem rates rise there could well be further practice i.e. valuations we are aware Difficult market conditions persist, being affected by 20% to 25% in some sharp corrections in property values that, at best, the market is very static. although there continues to be a fair cases. particularly to modern flat Mortgage complications appear to be number of buyers in the £300,000 to developments and modern estate one of the biggest factors affecting the £500,000 range. North West houses. confidence of the property market. Chris Clubley FRICS CAAV, Chris Andrew Duncan MNAEA, J. B & B Michael Fisher FRICS, Fisher & Peter M Hayward FRICS, Hayward Tod Clubley & Co., Market Weighton, York, LEACH, St.Helens, Merseyside, 01744 Wrathall, Lancaster, Lancashire, 01524 Associates LTD, Carlisle, Cumbria, 01430 874000 - The market is 22816 - Generally positive but very 68822 - Smaller properties i.e. below 1228810300 - Sales are very hard won. extremely price sensitive at present, we unpredictable, busy one day and quiet £250,000 selling. Anything over Over 500k interest is very weak, not have had an increase in sales due to a the next. We need more funding £250,000 seems to be struggling until through lack of desire to move but higher level of investors at the lower available and the credit scoring easing you get in the £700,000 region. more lack of ability to move through end of the market. a little. failure to sell. Confidence is low and East Midlands the future seems difficult. Vendors will David Blagden FRICS FNAEA, E.surv Andrew Holmes BSc(Hons) Dip Surv have to accept reduced selling prices Chartered Surveyors, West Yorkshire, MRICS, Carter Jonas, South Lakeland, Christopher Shallice FRICS FAAV, Hix to become proceedable and thus be Yorkshire, 1423530001 – Static. Cumbria, 01539 814908 - Activity and & Son, Holbeach, Lincolnshire, 01406 able to negotiate a favourable next confidence remains good although we 422 777 - The market is generally purchase. This is a big ask where Edward Waterson ARICS, Carter have seen a dip in buyer enquiries as quiet. The problems of funding for equity held is generous, but under Jonas, York, North Yorkshire, 01904 we do every year at the start of the purchasers remain. different circumstances a move may 558201 - Activity is patchy but prices summer holiday period. Vendor prove out of the question at this time. are holding their own as new aspirations in most cases now seem to David Blagden FRICS FNAEA, E.surv Continued European fiscal/economic instructions slow. Buyers remain very be in line with the current market as Chartered Surveyors, Lincolnshire, issues will dictate how we go forward. price sensitive but if a property ticks all more realistically priced property is Lincolnshire, 1423530001 – Static. the boxes they will buy. introduced. Richard Sayer BSc FRICS, Rook David Hawke FRICS, David Hawke & Matthews Sayer, Alnwick, Francis Brown FRICS, Norman F Brian Jackson FRICS, Ellis & Sons, Co., Worksop, Nottinghamshire, 01909 Northumberland, 01665 510044 - The Brown, Richmond, North Yorkshire, Southpotrt, Merseyside, 01704 534171 531450 - A very quiet month with market remains broadly flat. Sales and 01748 822473 - Values continue to fall - Offers have fallen in number this reduced sales and instruction. listings are satisfactory but viewings in a very sluggish market. month. Still a lack of first time buyers. and new applicants are reducing, The buy to let investors have also David Johnson Dip Arb FRICS MRICS, possibly due to the onset of summer Ian Bebbington BSc MRICS, Ian decreased. Less movement at the Readings Property Group Ltd., holidays and the seasonal slow down. Bebbington Estate Agents, lower end of the market is having a Leicester, Leicestershire, 0116 204 Improvements in the wider economy Northallerton, Yorkshire, 01423 562531 knock-on effect upwards. 6157 - A delicately balanced housing have not yet lifted property market - This month viewings and sales have market is now in the midst ex the confidence. We anticipate a steady slowed more than usual. This could be D.Coates MRICS, Venmores, holiday season. Economic uncertainty market for the next quarter with no due to July being a holiday month, or Liverpool, Merseyside, 0151 236 0301 is still being balanced by limited supply. expectations of sharp adjustments up just low public confidence. - The market remains flat, particularly, Thus prices mainly static. or down. Realistically priced homes sell in the first time buyer range due to well but mortgage availability and John E Haigh BSc MRICS FAAV, Lister difficulties arranging finance. Many of Edward Wreglesworth FRICS, Escritt attractive rates remain a real problem Haigh, Knaresborough, North these previously sought-after Barrell Golding, Sleaford, Lincolnshire, to the industry. Yorkshire, 01423 860 322 - Buyers properties are being bought by 1529302271 - A weak market waiting to get on to the housing ladder speculators at considerably less than compounded by slow and restricted Stuart Allan FRICS, Broadley & are still looking for assistance from the market value creating almost a two-tier mortgage activity. We are still awaiting Coulson, Bishop Auckland, Co financial sector. tone of value. the full impact of the public sector Durham, 01388 602656 - There is still cutbacks particularly the armed forces, a marked problem with a lack of first John Francis FRICS, Crapper & Haigh, David W Pearse FRICS, David W which form a large section of our local time buyers from the bottom end of the Sheffield, South Yorkshire, 0114 272 Pearse & Co, Mold, Flintshire, community. market and thus reflecting right up 9944 - Properties are still selling, but 1352700274 - Very quiet conditions - through the market. only if realistically priced. lack of confidence in view of constant Ian J Shaw FRICS, Escritt Barrell stream of bad economic news. Golding, Grantham, Lincs, 1476590211 Yorkshire & Humberside Mark John Hunter MRICS, Grice & - Still a price driven market. Very few Hunter, Doncaster, South Yorkshire, John Halman FRICS, Gascoigne new applicants. What has sold is Alex McNeil MRICS, Bramleys, 01302 360141 - Sales actually Halman, Wilmslow, Cheshire, 01625 bottom end property. Holiday time. Huddersfield, West Yorkshire, 01484 increased (quite significantly) in June 460344 - Market activity in July was 530361 - The market remains slow and and early July but only certain aspects quiet but sales showed signs of Martin Pendered FRICS, Martin subdued with a low level of of the market are saleable. In the last improvement. Pendered & Co., Wellingborough, transactions with the reality being that two weeks activity has drastically Northamptonshire, 01933 228822 - prices are still falling, albeit more slowly declined. John Williams FRICS, Brennan Ayre June and July have been very positive and at different rates depending upon O'Neill, Wirral, Merseyside, months for sales with competition for sector. Nick Atkin FRICS, Ullyott & Butler, 1513439060 - The market enters the some properties. Stocks are, however, Driffield, East Yorkshire, 1377253456 - summer holiday period in a stable dwindling and activity is likely to decline Alex McNeil MRICS, Bramleys, Market continues to be difficult. Offers condition, supported by low interest as a result. We expect a quiet August Calderdale, Halifax, 01484 530361 - are very low when they come forward. rates but undermined by low consumer but anticipate an improvement in There are a low number of enquiries confidence. supply and demand in September. and new houses coming onto the market and there remains a low volume of transactions and it is predicted that it may be some time before there is any increase in confidence.

Neil Hunt FRICS, Wilkins Vardy Jeremy Dell MRICS FAAV, J J Dell & Jeffrey Hazel FRICS, Geoffrey Collins Clive Rutland FRICS, Rutland Residential Limited, Chesterfield, Company, Oswestry, Shropshire, & Co., Kings Lynn, Norfolk, Chartered Surveyors, Southampton, Derbyshire, 1246270123 - The summer 01691 653437 - Too much uncertainty 1553774135 - It remains difficult to Hants, 023 8066 3451 - The market is holiday slow down has begun with in the economy for the property market secure sale instructions at the correct still drifting without real direction and reduced levels of activity in all areas. to pick up. price. Purchasers are negotiating hard without a freshening wind of more Vendor anxiety is the only growth point and unless a vendor negotiates, mortgages to first and second time with many clients still in denial of the John Andrews FRICS IRRV, Doolittle & applicants will not buy. buyers it will be in the doldrums for falls in value over recent years. Dalley, Bewdley, Worcestershire, some while yet. Pirates in the form of 01562 821600 - A somewhat stagnant John Pocock, Pocock & Shaw, residential investors are roaming the Peter Mountain FRICS, Peter market where potential buyers are Cambridge, Cambridgeshire, 01223 seas for possible booty now that rents Mountain, Louth, Lincolnshire, 01507 reluctant to commit. Individual country 322552 - Continuation of a steady are rising and the rewards to be 603 366 - Another very quiet month. I properties still in demand, however few situation with a modest supply of plundered appear better. The horizon is expect more of the same. proceedable buyers. property coming onto the market and a still cloudy and whilst the Bank of reasonable balance generally between England have kept weather conditions R L Bell BSc FRICS, Robert Bell and John Andrews FRICS IRRV, Doolittle & supply and demand. Still competition calm with low interest rates the outlook Company, Horncastle, Lincs, 01507 Dalley, Stourport, Worcestershire, for the most popular houses and a poor is uncertain. If clouds appear in the 522222 - There is very little buyer 01562 821600 - Still a relatively quiet demand for the least favoured. form of higher rates then a large confidence. market however more activity was seen number of over laden 'Buy to Let's' are earlier this year. Potential buyers Strutt and Parker, Ipswich, Suffolk, likely to founder. The hope is that not Stephen Gadsby BSc FRICS, Gadsby, nervous to commit in uncertain 01473 220428 - Levels of enquires are all will sink without trace. A case of Orridge, Derby, Derbyshire, 01332 economic times, trend unlikely to up and offers coming in at more steady as you go for Cowes Week and 296396 – Consumer confidence still change short term. sensible levels but pricing still beyond. I am increasing my crew for fragile and realistically priced properties paramount to get viewings. Substantial the weather system that will give us a still attracting interest. John Andrews FRICS IRRV, Doolittle & price reductions happening from down wind run for homes. Dalley, Bridgnorth, Shropshire, 01562 proactive vendors formulating in more West Midlands 821600 - Signs of an improvement in viewers. More activity in the under David Boyden BSc MRICS, Boydens, levels of enquiry, although conversion £500k market than in the middle to top Colchester, Essex, 01206 762244 - A Champion FRICS, Halls, Worcester, of an enquiry through to a completed end of the market. Hopeful buyers struggling to sell. Worcestershire, 01905 611066 - sale is generally slow. Many potential Market is very individual. Strong buyers are waiting until their own Neil Akerman FRICS, Akermans David Nesbit FRICS, D.M.Nesbit & interest in some houses. Others no properties are sold before seriously Chartered Surveyors, Suffolk, Suffolk, Company, Portsmouth, Hampshire, 023 interest at all. Very price sensitive. looking for an alternative property. 01728 621 621 - Ability of the first time 9286 4321 - Very quiet for the holiday Higher rate of conversion from viewings buyer to raise the required deposit period. Buyer confidence is low and Andrew Grant FRICS, Andrew Grant to sales has been seen earlier this remains a problem, and I do not see some vendors remain obstinate when LLP, Worcester, Worcestershire, year. this situation changing in the short to re pricing is required. The wider 7976982742 - Whilst the activities of all medium term, particularly with the economy gives little ground for buyers are heavily influenced by price, John Andrews FRICS IRRV, Doolittle & financial uncertainty in Europe and optimism for the remainder of this year. sellers are still inclined to overreach the Dalley, Kidderminster, Worcestershire, America. A difficult and frustrating market, yet underlying market price level. 01562 821600 - As more property properties have to be sold. Therefore managing sellers' comes for sale, more interest from Richard Bannister FRICS, Bannister & expectations is a challenge however, potential buyers but few in a Company, Felixstowe, Suffolk, 01394 David Parish FRICS, Gates Parish & as always, the best quality properties proceedable position. Improvement in 282828 - Despite the fact that June Co., Upminster, Essex, 01708 250033 - continue to sell with much greater sales in property for improvement and turned out to be best month of the year The market is particularly active in the ease. development with indications that for sales, July did not follow on. The lower price ranges. There is little developers are starting to acquire land worsening market is partially the interest at present in properties over Andrew Oulsnam MRICS, Robert and property. An encouraging sign, seasonal drop but also lack of £500,000. Oulsnam & Co., Barnt Green, although sales still at a low level for the confidence due to poor financial and Birmingham, 0121 445 3311 - Levels of time of year. job forecasts. Hopefully it will pick up David Sherwood MRICS, Fenn Wright, enquiry and interest has dropped and as usual in the autumn but we have our Colchester, Essex, 01206 216556 - sales are proving increasingly difficult John Ozwell FRICS, Hunters, Solihull, doubts. Will be a tough year. Apathy seems to be prevalent to hold together with endless problems West Midlands, 01564 771000 - The throughout the market, vendors are not appearing in changes. market is consistent in that it is totally Simon Hickling MRICS FAAV, Maxey & under any pressure (debt) to reduce unpredictable. A good week for sales Son, Wisbech, Norfolk, 01945 583123 - asking prices and demand is equally Andrew Perrin MRICS, Fraser Wood followed by a bad week is the norm. It's To date we have sold only one property sporadic and not particularly Mayo & Pinson, Walsall, West all about confidence and there in 2011 to a first time buyer. Indications enthusiastic. All in all continuing Midlands, 01922 627686 - It would continues to be a lack of it. of the difficulty first time buyers are stagnation. appear that the first time buyer/investor having in getting funds. market is very poor due to lending Ryan William BSc FRICS, Mcartneys David Smith BSc MRICS, Carte Jonas, criteria/deposit required for first time LLP, Hay-on-Wye, Hereford, 01497 South East Andover, Hampshire, 01264 342342 - buyers and the return being insufficient 820778 - Much more activity as Becoming a buyers market as for investors. We are finding that there vendors expectations get more realistic Andrew Miller FRICS, Linay & Shipp, discerning purchasers look to take is increased activity in the middle to and more buyers emerge. Still a strong Orpington, Kent, 01689 825678 - advantage of the market place. As higher end of the market in Walsall. demand for one off country houses, Surprisingly high level of viewings; always in this part of North Hampshire small holdings and cottages. Modern however few offers received as a result there remains an exceptional demand Brian Holt MA MRICS, Brian Holt estate houses still difficult to sell unless unfortunately. Buyers are not making for the ‘one off’ properties, where Chartered Surveyors, Leamington Spa, competitively priced. Still fragile. compromises as they feel no urgency above market value figures can still be Warwickshire, 01926 450999 - or pressure to panic buy. obtained but that is the exception not Economic climate causing lack of East Anglia the rule. confidence. Bryan Elphick FRICS, Elphick Estate Christopher Philpot BSc FRICS, Lacy Agents, Ashtead, Surrey, 01372 Edward Robinson MRICS, Robinson, Edward Gallimore FRICS, Edward Scott & Knight, Stowmarket, Suffolk, 272321 - Uncertainty and holidays Maidenhead, Berkshire, 01628 637600 Gallimore, Tenbury Wells, 01449 6123834 - A good potential having precedence, signs of a shortage - Lack of stock is keeping values high. Worcestershire, 1584810436 - The market is being held back by difficulties of stock. Price sensibly and you will have a lot of sellers must be aware of their real in raising mortgage finance. interest. market value.

8 RICS Housing Market Survey July 2011

Geoffrey Chapman FRICS, Barker John Frost MRICS, The Frost Philip Hiatt MRICS, Your Move Philip Ian Perry FRICS, Perry Bishop & Associates, Essex, Essex, 01279 Partnership, Beaconsfield, Hiatt, East Grinstead, W Sussex, Chambers, Cheltenham/ Cirencester/ 647111 - Availability and finance Buckinghamshire, 01494 680909 - If 01342 321142 - July followed the Fairford/ Malmesbury/ Nailsworth/ remain an issue. First time buyers still property is priced sensibly there is still pattern of June and saw a reduction in Tetbury, Gloucestershire, 01285 struggling to get together a suitable strong interest. Those vendors who are applicants and sales. Lack of 655355 - June and July have produced deposit. not realistic will receive little interest in confidence and finance continue to surprisingly high numbers of sales this market place. depress the market and not too many agreed. It is apparent that many buyers Geoffrey Chapman MRICS, Barker signs of an uplift in august. We are see the market as having passed its Associates, Bishop's Stortford, John King MRICS, Quinton Scott, hoping, whether it is a vain hope lowest point. Hertfordshire, 01279 647111 - Merton, Surrey, 020 8971 6780 - We remains to be seen, for more activity in Availability and finance continuing to be are experiencing a summer recession, September with buyers wanting to be in Jeff Cole MRICS, Cole Rayment & a minor irritant. First time buyers still enquiries have slowed while vendors by Christmas. Prices holding though, White, Wadebridge, Cornwall, struggling to obtain a deposit. Good accept reductions in asking prices to as limited stock. 1208813595 - The market is still patchy interest for 'shared ownership' attract buyers. and very price sensitive. We expect properties. Robert Green MRICS, John D Wood & things to go a little quieter during the Mark Everett BSc FRICS, Michael Co., Lymington, Hampshire, 020 7352 school holidays. July has been very Geoffrey Holden FRICS, Parsons Son Everett & Co., Epsom, Surrey, 01372 1484 - Lymington and the New Forest similar to June in terms of agreed & Basley, Brighton, East Sussex, 273448 - Increased vendor price is a very seasonal market, and is about sales. Wadebridge town continues to 01273 274011 - Instructions very slow, realism leading to more sales. to enter the holiday period. This will see be very popular as buyers are more some serious purchasers about but Instruction levels falling as summer an increase in the level of enquiries, aware of travelling costs & perhaps they want value for money and drive holiday period approaches. Buyer although many will be 'window reducing to one car per home. hard purchasing prices. quality improving but market still price shoppers'. Normal levels of activity are sensitive. Signs of improvement likely to return in early September. Jeremy Bell FAAV IRRV, Greenslade Ian Perry FRICS, Perry Bishop & overall. Taylor Hunt, Burnham-on-Sea, Chambers, Faringdon, Oxon, 01285 W J Hartnell FRICS, Simon Matthew & Somerset, 01278 782326 - Most of the 655355 - June and July have produced Martin Allen MRICS, Elgars, Wingham, Co., Brentwood, Essex, 01277 355255 activity is at the lower end of the market surprisingly high numbers of sales Near Canterbury, Kent, 1227720557 - - There has been a marked (up to £200k mark). Very quiet agreed. It is apparent that many buyers A pre-summer holiday flurry of activity improvement in house sales. The generally at the higher end in this part see the market as having passed it has resulted in an increased number of cheaper end of the market is beginning of Somerset. A lot of the surrounding lowest point. agreed sales but this is proving to be a to move. This is unusual since the villages have either potential wind farm very small step towards achieving an holiday period is almost upon us. We or new electricity pylon issues which is John Frost MRICS, The Frost exchange of contracts as any little hope that the autumn will be busy. spooking the locals and deterring Partnership, Gerrards Cross, problem with the property, finance, However, we see no increase in prices. potential buyers. Until these issues are Buckinghamshire, 01494 680909 - buyer or purchasers employment will resolved one way or another, generally Market over £1,000,000 slow and result in withdrawal. Still a very fragile William Leschallas MRICS, Jackson- a very difficult market for the seller difficult. Price absolutely key to market. Stops & Staff, Burford, Oxfordshire, locally. achieving a sale. Anything overpriced 01993 822661 - There is certainly not selling. Good levels of viewing but Martin Seymour BSc FRICS, Crow activity in the market with good buyers Mark Annett FRICS, Mark Annett & sales to viewing ratio very high - Watkin, Reigate, Surrey, 01737 245888 about; however the market continues to Company, Chipping Campden, indicative of cautious buyers and - Achieved house prices are in the main be unpredictable. Gloucestershire, 1386841622 - A more overpriced stock. just a little lower than their levels of difficult market, but we are very busy. spring as wider economic problems South West There could be pressure on prices but John Frost MRICS, The Frost seem to be causing restraint on the the good agent will come through. Partnership, Staines, Middlesex, 01494 part of many buyers. Colin Bowden FRICS, Dickinson 680909 - Nothing specific to the local Bowden, Dorchester, Dorset, Mathew Harvey BSc MRICS, Tayler & market. Decrease in number of Mike Hewson FRICS, Howard Cundey, 1305250402 - Positives-Mortgages are Fletcher, Bourton on the Water, instructions. Could just be seasonal Lingfield, Surrey, 01342 833333 - Great becoming easier to obtain. Negatives- Gloucestershire, 1451820913 - Lack of with the school holidays. Viewings and exchanges and completions but new Fear of job losses and insecurity. supply versus economic climate is sales very similar to last month so no instructions slow and sales are being resulting in a slow but strong market. significant changes to the market. made but it is hard work. The summer David Dark FRICS FNAEA, Seldon holidays are most certainly here. Ward & Nuttall, Bideford, Devon, 01237 Peter G May FRICS, Minster Property John Frost MRICS, The Frost 477997 - Investors continue to buy. Management Limited, Wimborne, Partnership, Burnham, Peter Fearn FRICS, Keats Fearn, First time buyers/first time sellers still Dorset, 01202 842812 - The early Buckinghamshire, 01494 680909 - As Farnham, Surrey, 01252 718018 - This have problems with mortgage summer has been busier but not as is usual the holiday period in July has is one of the slowest markets I can availability. Increased demand from out busy as last year. Prices are currently dampened down activity and a number recall in over 40 years experience. of area buyers. holding up but I suspect they will fall of vendors coming into the market after Sales are taking so long to progress, back with decreased activity in the the holidays, not anticipating a real once agreed, that buyers and sellers David J Dark FRICS, Seldons Estate autumn and definitely over the winter increase until the end of August. are apt to withdraw at the last moment, Agents, Bideford, Devon, 01237 period. Christmas is expected to start often on a whim. The work involved for 477997 - Investors in the lower price early. John Frost MRICS, The Frost the poor ( literally ) agent is colossal ranges continue to buy. This helps as Partnership, Ashford, Middlesex, 01494 compared to the fee received, which is mortgage availability for first time Peter Symons FRICS, Stags, Totnes, 680909 - A slightly better month than coming under threat from increased buyers and first time sellers is still South Devon, 1803865454 - Where June, but still not anywhere near the competition. proving to be difficult. Increased price is right, demand is there. business levels we would like to see. demand from out of area buyers. Peter Mockett FRICS, Hilbery Chaplin, Richard Addington MRICS, Savills, John Frost MRICS, The Frost Romford, Essex, 01708 732732 - In David Mackenzie, Carter Jonas, Bath, Devon, Devon, 01392 455745 - Some Partnership, Windsor, Berkshire, 01494 view of the economic climate the Somerset, 01225 750900 - Bath is its vendors are more prepared to accept 680909 - Lower value, well priced stock market in this area is a lot better than own microclimate and property prices lower offers as winter appears on the is still receiving good interest. There is maybe it should be. don't follow the national trend. horizon. some indication that vendors understand that the market is finely David McKillop BSc FRICS, McKillop & Robert Williams MRICS, Robert balanced currently. Gregory, Salisbury, Wiltshire, 01722 Williams, Exeter, Devon, 01392 204800 414747 - A good start to July, then - Prices generally stabilising after a went very quiet and now has picked up couple of months of modest reductions again. Lack of first time buyers, but to keep track of reduced amount of have sold three investment properties. buyers. Village houses difficult to sell which is unusual. Not much confidence out there.

9 RICS Housing Market Survey July 2011

Roger Punch FRICS, Stags, Plymouth, Paul Lucas FRICS, R.K.Lucas & Son, Jeremy Leaf BSc FRICS, Jeremy Leaf Alex Inglis MRICS, CKD Galbraith, Devon, 01752 223933 - An Haverfordwest, Pembrokeshire, 01437 & Co., Finchley, Barnet, 020 8446 4295 Kelso, Roxburghshire, 01573 224 244 - encouraging month with the general 762538 - Mortgage lending is easing - Sales activity held up reasonably well The market has improved this year sentiment of a very slowly improving but the time taken to confirm finance for us this month in spite of holiday although prices remain fairly static. The market. Sales have often been has deterred many transactions. The season distractions - although first-time last month has been quieter due to the provoked by attractively modest number of properties coming onto the buyer numbers reduced. Stock start of the Scottish school holidays. marketing prices, but this adjustment market is increasing although the shortages are still underpinning prices However, we are still selling and had 5 continues the confidence that we have number of sales achieved is falling especially for three and four bedroom offers at a closing date today as well as for a reasonable sales level over the once again after a brief spurt in May. family houses though demand for a successful offer for a property that forthcoming months. brand new homes and land to put them had been on the market for less than a Roger Davies MRICS, J J Morris, on remains particularly strong. week. Simon Cooper FRICS, Stags, Exeter, Cadigan, Ceredigion, 01239 612 343 - Devon, 01392 255202 - July has Seasonal enquiries for the coastal John King MRICS, Quinton Scott, Andrew MacFarlane BSc MRICS, proved to be a good month for new properties but only a few buyers Wimbledon, London, 020 8971 6780 - Graham + Sibbald, Hamilton, sales due to many vendors accepting actually capable of proceeding, many There is still an active sector of buyers Lanarkshire, 1698422500 - Market lower prices on their properties. With more entwined in property chains or looking for the right property. While the conditions have remained steady in correct pricing sales are taking place, incomplete chains. First time buyers majority of purchasers are making Lanarkshire. Increased number of often quite rapidly after coming to the still finding it difficult to get affordable lower than expected offers. The overall Home reports leading to transcription market. There is still a feeling that funding. Some relaxation of criteria by activity level of sales is down by 15% reports for purchasers’ mortgage within prices will however still slide a little. banks could help a lot. compared to this time last year. a three month period, remains a high number of refresh Home Reports for Stephen Morris MRICS IRRV, Davies & London Keith Barnfield FRICS, Barnfields, properties sold after 3-6 months and Way, Keynsham, Bristol, 01225 400400 Enfield, Middlesex, 020 8363 3394 - A more. There has been increased - A stable market with good levels of A W Griffith FRICS, Robert Sterling very busy period with no sign of a evidence of Japanese Knotweed activity. Surveyors LLP, Walthamstow, holiday lull so far. A slight uptick in growth at several locations across Waltham Forest, 0845 838 0930 - prices has been noted. Lanarkshire, providing additional William Morrison BSc MRICS, Knight Much the same this month as last difficulties to sellers, many mainstream Frank, Exeter, Devon, 01392 423111 - month, and as we come into the Luke Pender-Cudlip MRICS, Knight lending sources will not provide Prices need to come down. holiday season, I expect it to be no Frank, Wandsworth/Balham/Clapham, mortgage funding without confirmation better next month. London, 020 8682 7777 - Things were of removal by a specialist contractor Wales quieter than usual in May and June. under cover of a long term guarantee. Anthony Fieldhouse MRICS, Anthony However, well priced stock is still D E Baker FRICS, David Baker & Fieldhouse & Co, Greenford, LB of selling well. Brian Devine FRICS, Graham+Sibbald, Company, Penarth, Vale of Glamorgan, Ealing, 020 8813 0202 - At the lower Stirling, Stirlingshire, 01786-463111 - 029 2070 2622 - Very quiet for the time end of the scale, the problem of Robert Green MRICS, John D Wood & The market has been ticking over but of year. Prices dropping slightly in obtaining mortgages for first time Co., Battersea, London, 020 7352 1484 there is no consistency from week to some types of properties, mainly flats buyers is still the biggest brake on the - There is a huge demand from buyers week, even day to day. Famine or feast and the top end of the market, market, have a notable effect on sales across all property types, but a best sums up the last few weeks but otherwise stable. of studio flats, one- and two-bedroom shortage of stock for them to buy. The overall the level of activity, having flats particularly. quality of buyers is very strong, with a regard to the general economic climate David K. Jones FRICS, Jones and high percentage able to fund a and holiday period, has been fairly Redfearn, Rhyl, Denbighshire, 01745 Bill Fisher, Craig Sheehan Surveyors, purchase from cash. encouraging. Constant stream of HR 351111 - The market continues to be London, Hammersmith & Fulham W14, refreshes being requested which up and down. Activity is up but prices 0207 385 5020 - There is a degree of Robert Green MRICS, John D Wood & indicates properties are selling are down. Sellers are being realistic so demand which is not being satisfied Co., Belgravia, London, 020 7352 1484 although many agents still holding too sales are being agreed. As ever money because of the restrictions in the - A chronic shortage of stock is the much stock. remains tight and things won't improve availability of mortgages, in what is pre- hallmark of the Belgravia market, due until realistic lending returns. dominantly a first time buyers housing to the high number of discretionary Craig Henderson, Graham & Sibbald, area. sellers. This shortage has pushed Glasgow, Glasgow and West Scotland, Kelvin Francis FRICS, Kelvin Francis & prices beyond those seen at the 0141 332 1194 - There is no doubt that Co., Cardiff, South Glamorgan, 029 Charles Puxley, Jackson-Stops & Staff, previous peak of 2007. the market remains challenging, 2076 6538 - The number of valuations Chelsea, London, 020 7581 5881 - particularly since the school holidays for sale and instructions, have started Central London is currently suffering Robert Green MRICS, John D Wood & started, and many families/ buyers are to tail off, to be expected during the from a lack of sellable instructions and Co., Chelsea, London, 020 7352 1484 - now focussed on holidays rather than summer months. There are still plenty this trend shows no sign of changing. A continued shortage of supply, house buying or selling. We normally of potential buyers in the market, a So in order to maintain turnover agents combined with strong demand from see a general slowdown during the surprisingly high proportion, in a set about doing more off market deals cash rich overseas buyers has seen summer months, and the early position to proceed. Although more where vendors want little fuss. We are the Chelsea and Knightsbridge markets evidence supports that this year is no mortgage products, up to 95% are noticing more and more people visiting continue to rise. We have yet to see different, however given the ongoing available, first time buyers are still our office for pleasure rather than any significant impact from the challenges in the market, that have cautious about entering the property business, who have no intention of sovereign debt crisis, and it may fuel existed during this year so far, if you market. There is a noticeable decline in buying anytime soon. the market further as buyers look for a are a buyer, then this is a good time to the number of public sector employees, safe place to put their money. buy. If you are selling, then you have to with package assistance, compared James Gubbins MRICS, Dauntons, be realistic in your price expectations if with twelve months ago. Pimlico/Westminster, London, 020 Stephen Whitley FRICS, R Whitley & you wish to achieve a sale in a realistic 7834 8000 - Market quietens as we Co., West Drayton, Middlesex, 01895 timescale. Pricing remains a key issue, Nigel Jones FRICS, John Francis, enter the holiday period. No change to 442711 - More properties coming onto and there is no doubt that as buyers Carmarthen, Wales, 07967 593561 - character of the market, just a the market for sale is being are prepared to ‘shop around’. Unemployed from local government reduction in activity. accompanied by a greater number of had no effect.
Funding is only new buyer enquiries. In theory this is a issue restraining the market. James Hyman MRICS, Cluttons LLP, recipe for a greater sales volume. London, London, 020 7407 3669 - Strong buyer and seller confidence. Scotland Expecting a very good autumn market. Alasdair Seaton BSc MRICS, D M Hall, Dunfermline and Environs/ Kinross, Scotland, 01383 621262 - Property market still slow and patchy. Houses still selling but showing no increase in sales prices.

10 RICS Housing Market Survey July 2011

Darroch Robertson MRICS, Graham + Malcolm Taylor FRICS, Bell Ingram Harold Montgomery FRICS, Sibbald, Aberdeen, Aberdeen/ Ltd., Forfar, Angus, 01307 462516 - Montgomery Finlay & Co., Enniskillen, Aberdeenshire, 01224 625024 - As is General fall in demand. Co Fermanagh, 028 6632 4485 - Still usual for this time of year, during very little volume. Main sales up to school and annual summer holidays, Peter Bennet MRICS, Graham & £120,000. market activity has slowed somewhat, Sibbald, Dunfermline, Fife, 01383 with a reduction in numbers of 732030 - It is without doubt still a Tom Mcclelland FRICS, Mcclelland properties coming to the market. Sales buyers market, particularly for people Salter, Lisburn, Co Antrim, 028 prices however still appear to be looking to purchase investment 92674121 - Despite wider downside remaining relatively firm and continued properties. Certain areas of the risks activity levels increased in July. requests to refresh Home Reports property market remain strong (good Sellers who are realistic on asking indicate properties are continuing to quality traditional and period style). prices get interest and offers from sell within reasonable time periods. At buyers. There appears to be a feeling the top end on the market, high quality Rachel Bromby MA MSc MRICS, amongst viewers that prices are now well presented and located properties Smiths Gore, Scotland, Scotland, within their reach in Aberdeen and western suburbs 01343 823020 - RAF Base closure at continue to achieve good sale prices, Kinloss and uncertainty over RAF while the lower end flat market remains Lossiemouth. relatively static with sales of properties in good order continuing to fare better Robbie Buchanan MRICS, than those requiring refurbishment. Graham+Sibbald, Kirkcaldy, Fife, 1592266211 - An increased number of Donald Wooley MRICS, Allied properties appear to be selling at prices Surveyors, Ayr, Ayrshire, 01292 closer to the asking price and value 260509 - The local market is currently than in previous months although flat, in line with normal seasonal activity demand in some sectors is still fairly in July. Properties are continuing to sell weak particularly for flats where there is relatively steadily providing sellers are an over supply. Increased rental realistic in their expectation of value. demand is attracting some buy to let First time buyer market remains slow investor buyers back into the market and until this improves and mortgage with rents rising compared to prices finance becomes more readily which have dropped over the last year available, there will be no significant resulting in a higher return which has to change in the market. be balanced with the prospect of zero capital growth at present. Graham Tonner MRICS, Graham and Sibbald, Dundee, Tayside, 1382200064 Thomas Baird 1130499 MRICS, Survey - While fewer properties were brought Scotland, Glasgow, Strathclyde, 0800 to the market in June - the number of 567 7040 - Medium term to stay similar sales reported increased over June price range, however long term over 2010. Estate agents are reporting that next couple of years to increase. June 2011 was the best month for sales for a long time and this is a step Thomas Baird MRICS, ., Glasgow, in the right direction. Traditionally July Scotland, 0141 571 1238 - Slight and August are quieter months due to increase in sales and more properties the holiday period with interest in them. Expect sales to increase over the next 12 months. Grant Robertson MRICS, Allied Surveyors, Glasgow, Scotland, 0141 William Murphy MRICS, Cruden 330 9950 - The market evidence is Homes East Ltd, Edinburgh, Lothians, growing that modest price falls are 0131 442 5775 - Very quit July, needed to secure sales but this needs hopefully due to holidays! to be seen in context with sales times improving and different approaches Northern Ireland from buyers i.e. confident or not. Some stability in evidence looking for the next Aidan Conway MRICS, P Andrews 3 months but the autumn looks as if it Chartered Surveyors, Londonderry, may need some further price changes County Londonderry, 2871263635 - to bring about sales but only to the There has been an increase in sales at extent of 1 - 3%. the bottom level of the market as buyers take advantage of the reduced Ian Morton BSc(Hons) MLE MRICS, property prices. Bradburne & Co., St Andrews, Scotland, 01334 479 479 - Holiday Alexander Inglis MRICS, CKD season in full swing so we do not Galbraith, Kelso, Roxburghshire, 01573 expect any movement until end of 224 244 - We remain pleased with August. Still a buyers market with some increased activity this year. However, bargains to be purchased due to sellers the market is patchy and this month losing nerve. has been a bit quieter due to the school holidays. We are continuing to receive Kevin Murchie BLE MRICS, Graham offers and had several offers at a and Sibbald, Edinburgh, Lothians, 0131 closing date today, as well as a 225 1559 - The market has now successful offer for a realistically priced entered the traditional holiday period detached bungalow which only went on and as predicted will slow down in the to the market earlier this week. short term with perhaps some increased activity say end of august/ beginning of September.

11 RICS Housing Market Survey July 2011 Contributor details

Kate Grace, Savills, Not- Brian Holt MA MRICS, North tingham, Nottinghamshire Brian Holt Chartered Chris Clubley FRICS Nick Atkin FRICS, Ullyott Jonathan Clayton FRICS - 0115 9348020 Surveyors, Leamington Andrew Bell FRICS BSc, CAAV, Chris Clubley & & Butler, Driffield, East BSc, Bentley Higgs & Spa, Warwickshire - North - 07970 842020 Co., Market Weighton, Yorkshire – 1377253456 Co., Blackpool, Lanca- Martin Pendered FRICS, 01926 450999 York - 01430 874000 shire - 01253 302928 Martin Pendered & Co., Andrew Bruce Dip VEM Nick Talbot, Carter Wellingborough, North- Brian Holt MRICS, Brian FRICS, Edwin Thomp- David Blagden FRICS Jonas, Harrogate, York- M G Fell BSc FRICS, T H amptonshire - 01933 Holt, Coventry, West son, Berwick-on-Tweed, FNAEA, e.surv Chartered shire - 01423 707803 Woodhouse & Co., Birk- 228822 Midlands – 2476712777 Northumberland - 01289 Surveyors, West York- enhead, Merseyside – 304432 shire, Yorkshire – Peter M Mawer FRICS, 1516089776 Neil Hunt FRICS, Wilkins Edward Gallimore 1423530001 Cranswicks, Bridlington, Vardy Residential Lim- FRICS, Edward Galli- Dan Maddison MRICS, E Yorkshire - 01262 Michael Fisher FRICS, ited, Chesterfield, Derby- more, Tenbury Wells, Foster Maddison Prop- David Copley BSc 672110 Fisher & Wrathall, Lan- shire – 1246270123 Worcestershire – erty Consultants, Hex- MRICS, Beadnall Copley, caster, Lancashire - 1584810436 ham, Northumberland - Harrogate/ Tadcaster, Richard J Graves FRICS, 01524 68822 Peter Mountain FRICS, 01434607711 Yorkshire - 1423503500 D. Dunk, Lewis & Grvaes, Peter Mountain, Louth, Jeffrey Gregson FRICS, Bridlington, East York- Terence Redding MRICS, Lincolnshire - 01507 603 GregsonPage, Worces- T H Brannen FRICS, David Pank FRICS, Man- shire - 01262 672576 Warrington Borough 366 tershire, Worcestershire – Brannen & Partners, ning Stainton, Leeds, Council, Warrington, 1905852007 Whitley Bay, Tyne and Yorkshire - 07712 Richard Storry BSc Cheshire - 01925 442848 Philip Barnatt MRICS, Wear - 0191 2517878 555438 MRICS, Lithgow Sons & Mundy & Co., Lincoln, Jeremy Dell MRICS Partners, Stokesley, William Legget FRICS, Lincolnshire - 01522 FAAV, J J Dell & Com- Neil Foster BSc (Hons) Edward Green MRICS, North Yorkshire – Denton Clark & Co, 510044 pany, Oswestry, Shrop- MRICS, Foster Maddison Jackson Green & Pre- 1642710158 Chester, Cheshire – shire - 01691 653437 Property Consultants, ston, Grimsby, North East 1244409660 R L Bell BSc FRICS, Newcastle upon Tyne, Lincolnshie - 01472 311 Toby Millbank MRICS, Robert Bell and Com- John Andrews FRICS Tyne & Wear – 113 Strutt & Parker, Harro- East Midlands pany, Horncastle, Lincs - IRRV, Doolittle & Dalley, 01434607711 gate, North Yorkshire - 01507 522222 Bewdley/ Bridgnorth/ Edward Waterson 01423 561274 Andrew Cowling BSc Kidderminster/ Stourport, P Airey MRICS, Paul ARICS, Carter Jonas, FRICS, Carter Jonas, Stephen Gadsby BSc Worcestershire - 01562 Airey Chartered Survey- York, North Yorkshire - North West Northampton, Northamp- FRICS, Gadsby Orridge, 821600 ors, Sunderland, Tyne & 01904 558201 tonshire - 01604 608202 Derby, Derbyshire – Wear - 0191 514 5777 Andrew Duncan MNAEA, 01332 296396 John Ozwell FRICS, Francis Brown FRICS, J. B & B LEACH, Christopher Bletsoe Hunters, Solihull, West Peter M Hayward FRICS, Norman F Brown, Rich- St.Helens, Merseyside - FRICS FAAV, Bletsoe Stephen King FRICS, Midlands - 01564 771000 Hayward Tod Associates mond, North Yorkshire - 01744 22816 Estate Agents, Thrap- King West, Market Har- LTD, Carlisle, Cumbria – 01748 822473 stone, Kettering - 01832 borough, Leicestershire - Julian T J Owens, Ark- 1228810300 Andrew Holmes BSc 732188 01858 435970 wright Owens, Hereford, Ian Adams MRICS MEWI (Hons) Dip Surv MRICS, Herefordshire – Richard Sayer BSc RICS Registered Valuer, Carter Jonas, South Christopher Shallice Stephen Saunders 1432267213 FRICS, Rook Matthews Miller Metcalfe Ltd, King- Lakeland, Cumbria - FRICS FAAV, Hix & Son, FRICS, Stephen Saun- Sayer, Alnwick, Northum- ston upon Hull, East 01539 814908 Holbeach, Lincolnshire - ders Professional Ser- Nicola Farmer, John berland - 01665 510044 Riding of Yorkshire – 01406 422 777 vices, Nottingham, Not- Earle, Henley in Arden, 7703329933 Brian Jackson FRICS, tinghamshire – Warwickshire – Roger Windass FRICS, Ellis & Sons, Southpotrt, David Blagden FRICS 1159234482 1564794343 Rickard Chartered Sur- Ian Bebbington BSc Merseyside - 01704 FNAEA, e.surv Chartered veyors, Whitley Bay, MRICS, Ian Bebbington 534171 Surveyors, Lincolnshire, West Midlands Ryan William BSc Tyne & Wear - 0191 252 Estate Agents, Northaller- Lincolnshire - FRICS, Mcartneys LLP, 2920 ton, Yorkshire - 01423 D.Coates MRICS, Ven- 1423530001 A Champion FRICS, Hay-on-Wye, Hereford - 562531 mores, Liverpool, Mer- Halls, Worcester, 01497 820778 Sam Gibson, Strutt & seyside - 0151 236 0301 David Hawke FRICS, Worcestershire - 01905 Parker, Morpeth, North- J WG Cameron FRICS, David Hawke & Co., 611066 Thomas Wyn Jones, umberland - 01670 Stanton Mortimer Limited, David W Pearse FRICS, Worksop, Nottingham- McCartneys LLP, Ludlow, 516123 Northallerton, North York- David W Pearse & Co, shire - 01909 531450 Adrian Powell FRICS, A Shropshire - 01584 shire - 01609 773004 Mold, Flintshire – Victor Powell, 872153 Stuart Allan FRICS, 1352700274 David Johnson Dip ARb Bromsgrove, Worcs - Broadley & Coulson, John E Haigh BSc FRICS MRICS, Readings 01527 832222 Tim Pook MRICS, Coo- Bishop Auckland, Co MRICS FAAV, Lister Ian Macklin FRICS, Ian Property Group Ltd., per Green, Shrewsbury, Durham - 01388 602656 Haigh, Knaresborough, Macklin & Company, Leicester, Leicestershire - Andrew Grant FRICS, Shropshire - 01743 North Yorkshire - 01423 Hale, Hale Barns & Tim- 0116 204 6157 Andrew Grant LLP, 276666 Yorkshire & Humber- 860 322 perley, Cheshire - 0161 Worcester, Worcester- side 980 8011 Edward Wreglesworth shire – 7976982742 Tom Follwell BSc(Hons) John Francis FRICS, FRICS, Escritt Barrell MRICS, Follwells Ltd, Alex McNeil MRICS, Crapper & Haigh, Shef- John Halman FRICS, Golding, Sleaford, Lin- Andrew Oulsnam MRICS, Newcastle-under-Lyme, Bramleys, Calderdale/ field, South Yorkshire - Gascoigne Halman, colnshire – 1529302271 Robert Oulsnam & Co., Staffordshire - 01782 Huddersfield, West York- 0114 272 9944 Wilmslow, Cheshire - Barnt Green, Birmingham 615530 shire - 01484 530361 01625 460344 Graham Freckelton - 0121 445 3311 Mark John Hunter FRICS, Freckeltons, East Anglia Ben Hudson MRICS, MRICS, Grice & Hunter, John Robinson FRICS Loughborough, Leicester- Andrew Perrin MRICS, Hudson Moody, York, Doncaster, South York- FAAV, Whittaker & Biggs, shire - 01509 214564 Fraser Wood Mayo & Charlie Penrose MRICS, Yorkshire - 01904 shire - 01302 360141 Congleton, Cheshire - Pinson, Walsall, West Arnolds Property Consult- 650650 01260 274224 Ian J Shaw FRICS, Es- Midlands - 01922 627686 ants LLP, Norwich, Nor- Michael Beech MRICS, critt Barrell Golding, folk - 01603 620551 Bill Dale MRICS, Dale Windle Beech Winthrop, John Williams FRICS, Grantham, Lincs – Eddison, Ilkley, West Skipton, North Yorkshire - Brennan Ayre O'Neill, 1476590211 Yorkshire - 01943 817 01756 692900 Wirral, Merseyside – 642 1513439060

12 RICS Housing Market Survey July 2011

Christopher Philpot BSc David Boyden BSc Martin Seymour BSc South West Matthew Higgs FRICS, Dafydd Hardy MRICS, FRICS, Lacy Scott & MRICS, Boydens, Brain- FRICS, Crow Watkin, Michelmore Hughes, Dafydd Hardy & Knight, Stowmarket, tree, Essex - 01206 Reigate, Surrey - 01737 Ben Marshall MSc Totnes, Devon – Gwerthwyr Tai, Llangefni, Suffolk - 01449 6123834 762244 245888 MRICS, Woolley & Wal- 1803862002 Ynys Mon - 01248 lis, Shaftesbury, Dorset - 723322 David Burr MRICS, David David Nesbit FRICS, Mike Hewson FRICS, 01747 852242 Michael Joyce MRICS, Burr (Long Melford) Ltd., D.M.Nesbit & Company, Howard Cundey, Ling- Cooper & Tanner, Frome, David James FRICS, Long Melford, Suffolk - Portsmouth, Hampshire - field, Surrey - 01342 Colin Bowden FRICS, Somerset - 01373 James Dean, Brecon, 01787 883144 023 9286 4321 833333 Dickinson Bowden, Dor- 455060 Powys - 01874 624757 chester, Dorset – Graham Bunnett FRICS, David Parish FRICS, Peter Fearn FRICS, 1305250402 OF Miles FRICS, O, David K. Jones FRICS, Carter Jonas, Peterbor- Gates Parish & Co., Keats Fearn, Farnham, Swanage, Dorset - 01929 Jones and Redfearn, ough, Cambridgeshire - Upminster, Essex - Surrey - 01252 718018 D G Maskell MRICS, 426655 Rhyl, Denbighshire - 01733 588602 01708 250033 Jefferys, Liskeard/ Lost- 01745 351111 Peter Mockett FRICS, withiel/ St Austell/ Wade- Peter Farnsworth FRICS, Jeffrey Hazel FRICS, David Sherwood MRICS, Hilbery Chaplin, Romford, bridge, Cornwall – Rendells, Exeter, Devon - David Martin FRICS, Geoffrey Collins & Co., Fenn Wright, Colchester, Essex - 01708 732732 1208872245 01392 276 404 Newland Rennie Wilkins, Kings Lynn, Norfolk – Essex - 01206 216556 Cwmbran, Torfaen - 1553774135 Peter T Foster FRICS, David Dark FRICS Peter G May FRICS, 01633 868341 David Smith BSc MRICS, Porter Glenny, Grays, FNAEA, Seldon Ward & Minster Property Man- John Pocock, Pocock & Carte Jonas, Andover, Essex - 01375 374 444 Nuttall, Bideford, Devon - agement Limited, Wim- David Owen Evans Shaw, Cambridge, Cam- Hampshire - 01264 01237 477997 borne, Dorset - 01202 FRICS, Russell Baldwin bridgeshire - 01223 342342 Philip Hiatt MRICS, Your 842812 & Bright, Rhayader, 322552 Move Philip Hiatt, East David J Dark FRICS, Powys - 01597 819457 Deborah Catchpole, Grinstead, W Sussex - Seldons Estate Agents, Peter Symons FRICS, John Shrive FRICS, John Strutt & Parker, St Al- 01342 321142 Bideford, Devon - 01237 Stags, Totnes, South Giles Birt BSc MRICS, Shrive, Holt, Norfolk - bans, Hertfordshire - 477997 Devon – 1803865454 Birt & Company, Tenby, 01263 713303 01727 840285 R A Sumner BSc FRICS, Pembrokeshire - 01834 Sumner Pridham, Tun- David Mackenzie, Carter Richard Addington 842204 Strutt & Parker, Norwich, Edward Robinson bridge Wells, Kent - Jonas, Bath, Somerset - MRICS, Savills, Devon, Norfolk - 01603 617431 MRICS, Robinson, Maid- 01892 516615 01225 750900 Devon - 01392 455745 Kelvin Francis FRICS, enhead, Berkshire - Kelvin Francis & Co., Strutt and Parker, Ips- 01628 637600 Richard Athow FRICS, David McKillop BSc Robert Williams MRICS, Cardiff, South Glamorgan wich, Suffolk - 01473 Philip A Chapman, Hythe, FRICS, McKillop & Greg- Robert Williams, Exeter, - 029 2076 6538 220428 Geoffrey Chapman Kent – 1303264846 ory, Salisbury, Wiltshire - Devon - 01392 204800 FRICS, Barker Associ- 01722 414747 Nigel Jones FRICS, John Neil Akerman FRICS, ates, Essex, Essex - Richard Eshelby FRICS, Roger Punch FRICS, Francis, Carmarthen, Akermans Chartered 01279 647111 Latchmere Properties Gary Lawrence BSc Stags, Plymouth, Devon - Wales - 07967 593561 Surveyors, Suffolk, Suf- Ltd., Dorking, Surrey - (Hons) MRICS, Charles 01752 223933 folk - 01728 621 621 Geoffrey Chapman 01306 876 006 Lear & Company, Chel- Paul Lucas FRICS, MRICS, Barker Associ- tenham, Gloucestershire Simon Cooper FRICS, R.K.Lucas & Son, Haver- Nicholas Rudge FRICS ates, Bishop's Stortford, Richard Meeson MRICS, – 1242222722 Stags, Exeter, Devon - fordwest, Pembrokeshire FAAV, Durrants, Beccles, Hertfordshire - 01279 Carter Jonas, Winches- 01392 255202 - 01437 762538 Suffolk - 01502 712122 647111 ter, Hampshire - 01962 Graham Thorne FRICS 842742 FCIOB, Thornes Char- Stephen Froy BSc Roger Davies MRICS, J J Richard Bannister Geoffrey Holden FRICS, tered Surveyors, Poole, MRICS, Elder & Froy, Morris, Cadigan, Ceredi- FRICS, Bannister & Com- Parsons Son & Basley, Rob Wightman MRICS, Dorset - 01202 684004 Beaminster, Dorset - gion - 01239 612 343 pany, Felixstowe, Suffolk Brighton, East Sussex - Knight Frank, Hunger- 01308 862606 - 01394 282828 01273 274011 ford, Berkshire - 01488 Ian Perry FRICS, Perry Samantha James BSC 682726 Bishop & Chambers, Stephen Morris MRICS (Hons), Cooke & Ark- Simon Hickling MRICS Ian Perry FRICS, Perry Cheltenham/ Cirencester/ IRRV, Davies & Way, wright, Cardiff, South FAAV, Maxey & Son, Bishop & Chambers, Robert Green MRICS, Fairford/ Malmesbury/ Keynsham, Bristol - Glamorgan - 02920 Wisbech, Norfolk - 01945 Faringdon, Oxon - 01285 John D Wood & Co., Nailsworth/ Tetbury, 01225 400400 346346 583123 655355 Lymington, Hampshire - Gloucestershire - 01285 020 7352 1484 655355 Tim Barton FRICS, London South East John Frost MRICS, The Carter Jonas, Marlbor- Frost Partnership, Ash- Sam Askaroff MRICS Jeff Cole MRICS, Cole ough, Wiltshire - 01672 A W Griffith FRICS, Andrew Miller FRICS, ford/ Beaconsfield/ Burn- BSc(Hons), Estatewise Rayment & White, Wade- 514916 Robert Sterling Surveyors Linay & Shipp, Orpington, ham/ Gerrards Cross/ Ltd., Eastbourne, East bridge, Cornwall – LLP, Walthamstow, Kent - 01689 825678 Slough/ Staines/ Win- Sussex - 01323 412010 1208813595 William Morrison BSc Waltham Forest - 0845 dsor, Buckinghamshire - MRICS, Knight Frank, 838 0930 Anthony Jamieson 01494 680909 T M Trembath FRICS, Jeremy Bell FAAV IRRV, Exeter, Devon - 01392 MRICS, Clarke Gammon Mullucks Wells Associ- Greenslade Taylor Hunt, 423111 Alastair Iles MRICS, SW1 Wellers, Godalming, John King MRICS, Quin- ates, Bishop's Stortford, Burnham-on-Sea, Somer- Estates Limited t/a Iles & Surrey – 1483417131 ton Scott, Merton, Surrey Hertfordshire - 01371 set - 01278 782326 Wales Co., Knightsbridge, Lon- - 020 8971 6780 872117 don - 020 7235 4555 Bryan Elphick FRICS, Mark Annett FRICS, Mark Andrew Turner MRICS, Elphick Estate Agents, Mark Everett BSc FRICS, W J Hartnell FRICS, Annett & Company, Chip- Morris Marshall & Poole, Alun Jones MRICS, Mar- Ashtead, Surrey - 01372 Michael Everett & Co., Simon Matthew & Co., ping Campden, Glouces- Powys, Wales - 01686 ler & Marler, Knights- 272321 Epsom, Surrey - 01372 Brentwood, Essex - tershire – 1386841622 626 160 bridge, London - 020 273448 01277 355255 7235 9641 Clive Rutland FRICS, Mathew Harvey BSc D E Baker FRICS, David Rutland Chartered Sur- Martin Allen MRICS, William Leschallas MRICS, Tayler & Baker & Company, Anthony Fieldhouse veyors, Southampton, Elgars, Wingham, Near MRICS, Jackson-Stops & Fletcher, Bourton on the Penarth, Vale of Glamor- MRICS, Anthony Field- Hants - 023 8066 3451 Canterbury, Kent – Staff, Burford, Oxford- Water, Gloucestershire – gan - 029 2070 2622 house & Co, Greenford, 1227720557 shire - 01993 822661 1451820913 LB of Ealing - 020 8813 David Boyden BSc 0202 MRICS, Boydens, Col- chester, Essex - 01206 762244

13 RICS Housing Market Survey July 2011

Anthony Lee MRICS, Robert Green MRICS, Kevin Murchie BLE Samuel Dickey MRICS, BNP Paribas Real Estate, John D Wood & Co., MRICS, Graham and GOC Estate Agents, London, London - 020 Battersea/ Belgravia/ Sibbald, Edinburgh, Lo- Belfast, NI – 2890662366 7338 4061 Chelsea/ North West/ thians - 0131 225 1559 Wimbledon, London - 020 Tom Mcclelland FRICS, Bill Fisher, Craig Shee- 7352 1484 Lindsay S. Duguid BSc Mcclelland Salter, Lis- han Surveyors, London, FRICS, McNeill Maguire burn, Co Antrim - 028 Hammersmith & Fulham Simon Aldous BS & McCreath Ltd., Edin- 92674121 W14 - 0207 385 5020 MRICS, Savills Commer- burgh, Lothian - 0131 226 cial Ltd., London, London 6518 Brendon Thomas MRICS, - 020 7016 3861 MAP, Tower Hamlets, Malcolm Taylor FRICS, City, Hackney, Newham, Stephen Whitley FRICS, Bell Ingram Ltd., Forfar, Southwark, London – R Whitley & Co., West Angus - 01307 462516 8456344187 Drayton, Middlesex - 01895 442711 Peter Bennet MRICS, Chariton Symeou, Hanley Graham & Sibbald, Dun- Estates, London, London Tony How FRICS, Davis fermline, Fife - 01383 - 020 7561 5502 Brown, London, London – 732030 2076371066 Charles Puxley, Jackson- Rachel Bromby MA MSc Stops & Staff, Chelsea, Scotland MRICS, Smiths Gore, London - 020 7581 5881 Scotland, Scotland - Alasdair Seaton BSc 01343 823020 James Gubbins MRICS, MRICS, D M Hall, Dun- Dauntons, Pimlico/ fermline/ Kinross, Scot- Robbie Buchanan Westminster, London - land - 01383 621262 MRICS, Gra- 020 7834 8000 ham+Sibbald, Kirkcaldy, Alex Inglis MRICS, CKD Fife – 1592266211 James Hyman MRICS, Galbraith, Kelso, Rox- Cluttons LLP, London, burghshire - 01573 224 Thomas Baird 1130499 London - 020 7407 3669 244 MRICS, Survey Scotland, Glasgow, Strathclyde - James Wilson DipSurv Andrew MacFarlane BSc 0800 567 7040 MRICS FCIArb, W A MRICS, Graham + Sib- Ellis, Knightsbridge & bald, Hamilton, Lanark- Thomas Baird MRICS, Belgravia, London – shire – 1698422500 Glasgow, Scotland - 0141 2075817654 571 1238 Brian Devine FRICS, Jeff Doble MRICS, Graham+Sibbald, Stirling, William Murphy MRICS, Thamesview (including Stirlingshire - 01786- Cruden Homes East Ltd, Dexters), London, Lon- 463111 Edinburgh, Lothians - don Boroughs– 0131 442 5775 2086141224 Craig Henderson, Gra- ham & Sibbald, Glasgow, Northern Ireland Jeremy Leaf BSc FRICS, Glasgow and West Scot- Jeremy Leaf & Co., land - 0141 332 1194 Aidan Conway MRICS, P Finchley, Barnet - 020 Andrews Chartered Sur- 8446 4295 Darroch Robertson veyors, Londonderry, MRICS, Graham + Sib- County Londonderry – John King MRICS, Quin- bald, Aberdeen, Aber- 2871263635 ton Scott, Wimbledon, deen/Aberdeenshire - London - 020 8971 6780 01224 625024 Alexander Inglis MRICS, CKD Galbraith, Kelso, Jonathan Slater LLB Donald Wooley MRICS, Roxburghshire - 01573 (Hons) MA MRICS, Fos- Allied Surveyors, Ayr, 224 244 ter Slater, Central/ Ayrshire - 01292 260509 Greater London, London Bill McCann MRICS, Bill - 020 8341 4146 Graham Tonner MRICS, McCann Estate Agency, Graham and Sibbald, Lisburn, Co Antrim - 028 Justin Knight MRICS, Dundee, Tayside – 92 666222 Bective Leslie Marsh, 1382200064 Brook Green, London - Harold Montgomery 020 7603 5181 Grant Robertson MRICS, FRICS, Montgomery Allied Surveyors, Glas- Finlay & Co., Enniskillen, Keith Barnfield FRICS, gow, Scotland - 0141 330 Co Fermanagh - 028 Barnfields, Enfield, Mid- 9950 6632 4485 dlesex - 020 8363 3394 Ian Morton BSc (Hons) N M Maneely FRICS, Luke Pender-Cudlip MLE MRICS, Bradburne Maneely & Co., Dun- MRICS, Knight Frank, & Co., St Andrews, Scot- gannon, Co Tyrone - 028 Wandsworth/Balham/ land - 01334 479 479 8772 7799 Clapham, London - 020 8682 7777 Kevin Angus MRICS, J & Norman Russell MRICS, E Shepherd, Aberdeen, Russell Brothers, New- Michael Pollard FRICS, Scotland - 01224 202800 townards, Co Down – Pollards, Bexley, Kent - 2891812145 01322 559990

14 RICS Housing Market Survey July 2011 RICS Contacts

RICS Housing Market Survey Management

Josh Miller Senior Economist T: +44 (0)20 7334 3777 [email protected]

Himanshu Wani Economist T +44 (0)20 7334 3838 [email protected]

Survey subscription information and contributor enquiries

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