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Buyer enthusiasm increases again

Buyer enthusiasm increases again

Category: Mortgages

Updated: 15/04/2009
First Published: 15/04/2009

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Buyer enthusiasm is gaining ‘real momentum' according to UK surveyors, following the news that new enquiries in the housing market in March rose for the fifth consecutive month.

Thirty one per cent of chartered surveyors said they'd seen a rise rather than a fall in new buyer enquiries, according to the Royal Institution of Chartered Surveyors.

Interest is strong in every region, said the institute, with Wales and London, where 63 per cent of surveyors saw an upturn in enquiries, performing particularly strongly.

While the actual amount of houses being sold remains low, the expectation is that optimism will translate to increased sales later this year.

RICS spokesperson, Ian Perry, said: "Buyer interest is starting to gain real momentum but will remain frustrated while mortgage finance is scarce."

He also acknowledged that would-be first time buyers are finding it difficult to access the property market while so few high loan-to-value mortgages are available.

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