House prices have fallen flat over the past three months, according to the latest Royal Institution of Chartered Surveyors residential market survey.
A net balance of one per cent of respondents in Wales said prices increased over the past three months, down from four per cent was seen in October. This is consistent with a broadly flat picture.
Welsh surveyors report though that demand rose through November with a net balance of 25 per cent of respondents noting a rise in new buyer enquiries, up from 18 per cent in October.
The report found that a net balance of 16 per cent of respondents in Wales said there had been a rise in new instructions to sell, up from -22 per cent the month previous.
RICS senior economist Tarrant Parsons said: “Although the latest survey results continue to signal a steady improvement in buyer demand across the residential market, the broader macro environment is likely to pose additional headwinds moving forward. Most significantly, the recent rise in mortgage interest rates may curtail the recovery in market activity before long, and this is reflected in the slightly less optimistic sales expectations data coming through this month.”