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RICS announces rise in buyers

The Royal Institute of Chartered Surveyors reported rises in the number of monthly surveys being carried out by their members, even as government figures show that overall prices are continuing to fall. First-time buyers are still hardest hit.

Green Shoots for UK housing market say RICS

UK house sales rose to their highest level for more than three years in the three months to the end of May, according to surveyors.

 

The Royal Institution of Chartered Surveyors (Rics) said its members each recorded 17.9 property sales over the period on average.

 

This remained well below the peak of the market, but provided further indication that there was some momentum in the housing market.

 

Sales are expected to continue to rise.

 

Some 35% more surveyors predicted that they would see more sales over the next three months that the proportion who expected sales to fall, up from 26%.


 It was the highest reading since May 2009.

 

"There is still a very long way to go until we see a full scale recovery, but
green shoots are beginning to sprout," said Peter Bolton King, global residential director at Rics.

 

Surveyors in all areas expected prices to rise in the year, which would be good for sellers but bad news for first-time buyers trying to get onto the ladder.