The housing market remains in the doldrums, and there are few signs that this will change soon. Indeed, leading indicators such as the new buyer enquiries and newly agreed sales balances point to deteriorating conditions in the coming months. Yet, with the economy set to improve next year, unemployment holding at a record low, and interest rates still supportive, the downside risks to the housing market have been kept in check. We expect transactions and house price growth to hold broadly steady into the new year.
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