UK housing market survey shows 63% of surveyors note a rise in enquiries from new buyers
Interest in the housing market is continuing to grow, according to the latest housing market survey by the RICS.
Almost two-thirds (63%) of surveyors reported a rise rather than a fall in new buyer enquiries during the month of July. The RICS also said that 8% more chartered surveyors expected prices to rise rather than fall than they did last month, the highest rise in optimism since April 2007.
However, increased interest has not been matched by supply coming into the market. The RICS survey found that levels of stock on estate agents' books was “very low”, with only a 2% increase in new instructions last month.
Surveyors sold an average of 15 properties each in the past three months, compared with 13 during the three months from April to June.
Jeremy Leaf, a spokesperson for the RICS, said: “Although demand for property is continuing to rebound, it still remains low from a historical perspective. Crucially it is the lack of supply that is helping to underpin prices at the present time.”