More homes are coming onto the market in Wales, but fewer buyers are actively looking to purchase, according to the latest Royal Institution of Chartered Surveyors (RICS) residential market survey.
The survey found that a net balance of 18% of property professionals in Wales reported an increase in instructions to sell last month – the fourth consecutive survey to report an increase. A net balance is calculated by the proportion of property professionals reporting a rise in prices minus those reporting a fall.
New buyer enquiries and newly agreed sales continued to fall. Anecdotally, Welsh property professionals said correctly priced properties continued to sell. A net balance of -15% reported a fall in sales through April, while -59% saw a fall in new buyer enquiries.
