Buyer enquiries rise at fastest pace in nearly a decade
According to the latest survey from the Royal Institute of Chartered Surveyors (RICS), April saw the level of buyer interest in the housing market increase at its fastest rate in almost a decade.
The RICS data showed that while 32% of its members reported a rise rather than a fall in the amount of buyer enquiries made into property in March, this figure rose to approximately 41% in April – the highest level since July 1999.
In the Capital, 70% more surveyors confirmed an increase in buyer enquiries than those who reported a fall – the highest level of interest since the survey was first carried out in 1978.
Meanwhile, over the past three months, estate agents in the UK reportedly sold 10.6 properties on average – up from 9.7.
The RICS survey also showed that, although the stock of unsold property on surveyors books rose slightly last month, sales levels increased proportionally more so, resulting in a rise in the sales to stock ratio.
This ratio, which has now risen for the fourth month in a row, is said to be a key guide to future house price trends, and subsequently indicates that some house price stabilisation may occur later in 2009.
Indeed, RICS reported that, while 72.1% of its members confirmed house price falls in March, this figure decreased by 12.2% in April to 59.9%.
The level of surveyor confidence in both the UK house sales and property price outlook improved in April too. In the case of the former, the net balance of surveyors with a more optimistic outlook rose from 19 to 34.
Lee Bramzell, chief executive of PropertyIndex.com, said: "The RICS data supports the view of the vast majority of our agents: buyers are returning to the market, not just to look but to buy.
"Despite continuing economic uncertainty there are plenty of people out there who want and need to buy a home, and they want to take advantage of low prices before the market begins to rise."
Source: Guardian.co.uk and the Royal Institute of Chartered Surveyors
© PropertyIndex.com 2009 | Last updated: 12th May 2009
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