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House prices stall in Wales

Credit: Joe Giddens/PA Wire

House prices failed to rise in the Wales last month despite the number of homes per UK surveyor falling to a record low since the data series began in January 1978.

That is according to the latest RICS (Royal Institution of Chartered Surveyors) UK Residential Market Survey.

In most areas of the UK, house prices increased during the month of May. However, in Wales, 3% more surveyors reported a decrease in price rises, as supply to the market declined for the second consecutive month with more Welsh surveyors reporting a drop in new instructions.

But 27% more surveyors in Wales expect sales to rise over the coming three months (the highest figure since 35% back in November 2014).