Stretched mortgage affordability continues to weigh on the housing market in Wales last month as buyer demand and agreed sales fell, research by surveyors suggest. Activity in the Welsh housing market remains weak but more properties are coming onto the market, according to the latest survey from the Royal Institution of Chartered Surveyors (RICS).
A net balance of -46% of Welsh property professionals reported new buyer enquiries in February, indicating sharp falls in demand. Meanwhile, a net balance of -52% of professionals recorded for newly agreed sales.
However, in terms of supply, more homes were reported to be coming onto the market for sale. A net balance of +12% of surveyors reported instructions to sell - the second month in succession that professionals saw more homes being listed for sale.
