Sales to pick up by no more than 5% after Stamp Duty reforms – RICS

House price growth in November dipped for the sixth consecutive month, the RICS reported this morning.

The organisation also said that Stamp Duty Land Tax reforms would see only a muted response – a lift in transaction volumes of just 2–5%.

Some 15% more surveyors reported a decline in new buyer enquiries, and a fourth consecutive fall in supply to the market.

The number of houses for sale per branch fell back to its second lowest-ever reading of 56.

The RICS said that potential purchasers would continue to sit on their hands until after May’s general election.