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October 2019

SALES MARKET TRENDS REMAIN BROADLY FLAT

  • New buyer enquiries steady
  • New listings indicator remains firmly negative
  • Prices more or less stable

Ricardo Guimarães

Director at Ci

“For the agents surveyed, the recent news on public policies for the residential market has led to additional pressure for investors and potential buyers looking at buy-to-let. More concerning than the potential tax increase expected for the next Public Budget is the chronic fiscal instability that is impacting investors’ confidence, which is especially sensitive to stability, due to their long-term exposure to the market. In contrast to what happened during the crises, at the moment, it’s not obvious that the lease market is benefiting from the sales market activity reduction.”

Simon Rubinsohn

Senior Economist at RICS

“Improvements across the labour market appear to have come off the boil of late following a strong run over recent years. Indeed, over the past twelve months, the unemployment rate has seen virtually no change. Going forward, although employment levels are still expected to rise, the pace of growth is likely to be more gradual. Similarly, momentum continues to ebb across housing market, which exhibits a relatively subdued outlook for the coming months.”