RICS: Housing market subdued in May but outlook brightens as sales stabilise

The property market lost momentum after A­pril’s stamp duty hike, but sentiment is improving

Aerial shot of houses on a road
(Image credit: Getty Images)

The housing market remains subdued following April’s stamp duty hike, with sellers outnumbering buyers, according to the latest survey by the Royal Institution of Chartered Surveyors (RICS).

It said that estate agents reported a fall in new buyer enquiries last month, while house prices were broadly unchanged.

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Ruth Emery
Contributing editor

Ruth is an award-winning financial journalist with more than 15 years' experience of working on national newspapers, websites and specialist magazines.

She is passionate about helping people feel more confident about their finances. She was previously editor of Times Money Mentor, and prior to that was deputy Money editor at The Sunday Times. 

A multi-award winning journalist, Ruth started her career on a pensions magazine at the FT Group, and has also worked at Money Observer and Money Advice Service. 

Outside of work, she is a mum to two young children, while also serving as a magistrate and an NHS volunteer.