14 May 2010

The Royal Institution of Chartered Surveyors (Rics) has reported that the UK housing market has experienced its traditional boost in activity in Spring.

In the latest survey carried out by Rics the group found that the 245 members surveyed indicated that house prices are continuing to rise. In April 17% more surveyors said that prices were rising rather than falling, an increase from the 9% reporting similar figures in March.

The average number of homes sold, per surveyor, rose to 17.4 over the first quarter of 2010, with the number of homes being put up for sale again outweighing the increase in enquiries from potential buyers. This buyer and seller dynamic may lead to a decrease in property values over the coming months.

Rics also stated that generally its members were much more optimistic about both sales and prices, with Rics spokesperson Jeremy Leaf commenting: “The start of spring has seen renewed optimism with the good weather improving sentiment and surveyors expecting an increase in both sales and house prices. The housing market often sees an increase in new instructions in the early part of the year with sales boosted in the spring and this year has been no exception.”

Source: BBC

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