14 June 2010

The number of homes listed for sale in the UK has sharply risen in recent weeks, according to the Royal Institution of Chartered Surveyors (RICs).

RICs have attributed the increased listings to the suspension of Home Information Packs by the coalition Government last month. The removal of this ‘red-tape’ has allowed home sellers to get their properties onto market quickly, with no cash required upfront.

The surveyors expect home sales to increase in the coming months as a result of this, with 22% of surveyors reporting a rise in house prices rather than falls in the three months leading to May. This 22% represents the highest level since January.

Ian Perry, RICs, commented: “Surveyors are generally more confident that sales will continue to pick up over the summer months.”

Mr Perry did add that house prices are not expected to continue to rise as a result of the increasing number of new instructions. The number of properties on the market is reported to be 35% more than January this year, a staggering 145% higher than in January 2008.

Source: Home move

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