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Interest from house-hunters improves

Interest from house-hunters improves

Category: Mortgages

Updated: 10/04/2013
First Published: 10/04/2013

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

The number of people expressing an interest in buying a home rose during March, according to new figures released by the Royal Institution for Chartered Surveyors (RICS).

Volumes of new buyer enquiries in England and Wales grew last month, as did the number of successful property transactions which increased for the third successive month, as the positive effects of Funding for Lending on the housing market became more apparent.

House sales per surveyor increased by 3.4%, the highest level recorded by RICS in three years, with surveyors anticipating the positive trend in sales to continue over the next twelve months.

Despite the improved results in terms of sales, house prices remained relatively flat during March, with more surveyors reporting falls in prices over the first three months of 2013.

Looking forward, the majority of those questioned expect house prices to remain subdued over the next three months, eventually showing signs of improvement over the next year.

The report stated: "We will need to see a similar result over the next few months before being convinced that this market has turned a corner."

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