RICS House Price Balance for November: +13% (expected 15%)

RICS House Price Balance for November+13%

• expected 15%
• prior was 20%

• Lowest since May 2013
• Surveyors said they expect a boost in coming months from the reform of stamp duty, the property transaction tax
• Said new buyer enquiries fell once again
• Surveyors expect a boost of between 3 and 5% to sales from the Stamp Duty reform unveiled by Chancellor of the Exchequer George Osborne in the Autumn Statement on December 3
• Net 3% expected house price rises over the next 3 months (from 5% in October)
• New buyer enquiries down 15% in November (was down 17% in October )

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The Royal Institution of Chartered Surveyors (RICS) House Price Balance measures the percentage of surveyors reporting a house price increase in their designated area. A level above 0.0% indicates more surveyors reported a rise in prices; below indicates more reported a fall.