no spring boost for region's housing sector

The latest monthly RICS Residential Market Survey revealed Yorkshire and Humberside's housing sector failed to pick-up in May, traditionally one of the busiest times of the year for house sales.

According to the survey, the lack of homes across the region continues to fall with agents reporting an average of 32 homes on their books as interest from potential buyers continues to fall. 

This is in stark contrast to May 2016, the month prior to the EU referendum, when agents had an average of 53 homes for sale. This figure has not been surpassed in the last three years with the number of homes remaining the same, or falling, each month since May 2016.

However one agent seemingly bucking the trend is Furnell Residential. In May of this year the Bardsey based agent had 34 properties on its books compared to 18, 12 months previously.

Ben Furnell, Managing Director, said: "It is true to say market conditions are tough but we have seen an increase in our stock levels year on year. There are also buyers out there but they are definitely more cautious in their decision making as uncertainty over the economy continues to loom large."

Meanwhile the RICS Survey showed prices remained flat during May.