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Gloucestershire Business News

Positive forecast over housing sector

Optimism about the future of the housing market is shared by a number of leading house builders and backed by a new survey.

Research by the Royal Institution of Chartered Surveyors (Rics) shows a pick-up in confidence, following a significant drop in activity and price expectations in the wake of the EU vote.

That optimism is underlined by positive signals from Barratt Developments, Redrow and Berkeley Group, according to a report in the Guardian today.

The Rics report found that at a national level, both prices and sales are expected to rise over both the 3 and 12-month month horizons as activity in the market stabilises.

Rics chief economist Simon Rubinsohn told Sky News: "There are clear signs that the housing market is settling down after the initial surprise of the outcome to the EU referendum.

"Buyer enquiries did dip again in August but only modestly, and more significantly, sales expectations are beginning to edge upwards once again."

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