Home buyer demand has fallen for the seventh consecutive month in Wales, latest research has shown. The residential market survey for November from the Royal Institute of Chartered Surveys (RICS) found that the downward trend of buyer demand was continuing in the Welsh housing market.
RICS said high interest rates and a difficult macroeconomic outlook are impacting buyer sentiment which is causing activity in the market to slow.
Buyer demand has fallen for the seventh month in a row with the net balance coming in at -34%. Although less negative than the -65% reported in the previous month, the market remains in a "firmly downward trend" with indications that this will continue in the near term.
