June 12, 2016, Dubai: Property consultant Cavendish Maxwell has today launched the Residential Market Survey for Q2 2016. Aimed at agents operating in UAE, this quarterly survey identifies sentiment of the residential market in the region. Forming a part of the Quarterly Residential Market Report released by Cavendish Maxwell, the research showcases how new enquiries, leasing activity and transactions, among other metrics, changed over the previous quarter as per information from agents. The survey also provides an outlook on the following quarter, with predictions by key market players being studied against real performance.
“While most residential market reports focus on past performance, the Cavendish Maxwell Residential Market Survey uniquely captures real data from operating agents on the past quarter and an overview of what the next quarter is expected to look like. It therefore provides the most relevant market sentiment in the region. Studying what agents are saying, in addition to our own analysis of market performance, offers a comprehensive picture of where things stand,” says Manika Dhama, Research Manager, Cavendish Maxwell. In past surveys, agents have gone on to predict market movement ahead of the analysis at the quarter end. In the Q1 2016 Residential Market Survey, conducted in March, the majority of agents surveyed predicted apartment and villa prices will decline by up to 5 per cent. Quarter-end analysis showed both apartment and villa prices had fallen by 3 per cent on an average. Similarly, in the Q4 2015 survey, agents predicted apartment and villa rents to remain largely the same and the analysis concurred with marginal declines of 1 per cent in this segment. “For Q2 2016, the majority of agents had predicted a largely stable outlook for apartment and villa rents and sales. Early indicators seem to suggest this might be true, though an independent thorough analysis of the same is ongoing and will form part of our quarterly report to be released in July,” says Dhama.
Available through a link on the Cavendish Maxwell website and LinkedIn profile, the five minute Residential Market survey is open to brokerage professionals operating in Dubai and Abu Dhabi and is open till June 23, 2016. A summary of the results of the survey will be included in the Q2 2016.
Residential Market Report to be released in July. Additionally, complete results of the survey and related analysis are provided to participating agents through a unique results report.