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Surveyors predict sunny outlook for housing market

Surveyors predict sunny outlook for housing market

Category: Mortgages

Updated: 09/10/2012
First Published: 09/10/2012

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Property sales expectations amongst chartered surveyors reached their highest level last month since May 2010, despite September proving to be a rather flat month for house prices and transactions.

The latest UK Housing Market Survey conducted by the Royal Institution of Chartered Surveyors (RICS) has revealed that many surveyors believe Government incentive schemes, such as the Funding for Lending Scheme (FLS), will provide a well-needed boost to the housing market over the next few months.

House prices continued to fall during September, albeit at a slower rate than in previous months, bolstering surveyors' beliefs that the market is set to improve during the last quarter of this year.

According to the survey, 15% more surveyors recorded falls in property values, rather than increases.

Peter Bolton King, global residential director at RICS, said: "The housing market was relatively flat during September, but surveyors are optimistic that the run in to Christmas could see an increase in activity in many areas of the country.

"Prices are still dipping but at a much lower rate than seen in previous months."

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