Lack of supply stagnating West Midlands housing market
A lack of new properties coming to the market continues to stagnate the West Midlands housing sector, according to latest figures from RICS.
In its April Residential Market Survey, the organisation said chartered surveyors were reporting a fall in the number of new homes coming onto the West Midlands residential sales market with a net balance of -27%.
This trend dates back to October 2015 and alongside concerns over Brexit and the upcoming general election is one of the reasons cited by respondents for the subdued market.
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