Fewer people are enquiring about buying homes, according to RICS members, adding to evidence that the market is beginning to cool.
The monthly UK residential survey, published today, found the net balance of buyer inquiries was -7% in May compared with +8% in the previous month.
RICS chief economist Simon Rubinstein said: “The increase in the cost of mortgage finance alongside growing concerns about the economic outlook is unsurprisingly having an impact, albeit a relatively modest one at this point, on buyer activity in the sales market.”
