17 Feb

Affordability 'boosting buyer interest'

Affordability 'boosting buyer interest'

Lower house prices are the primary reason for a recent increase in interest among potential housebuyers, a survey has indicated.

The study by the Royal Institution of Chartered Surveyors found that 71 per cent of its members believed the fall in prices has led to the rise in enquiries.

A further 48 per cent said that buyers are being tempted by the expectation that the bottom of the market is close, while 35 per cent commented that lower mortgage rates are a factor.

The survey also found that renewed interest is greater among home movers, with 74 per cent identifying this group as the keenest to get back into the market.

Yesterday Rightmove's director of statistics Miles Shipside commented that his firm had seen a 108 per cent increase in enquiries in January compared with the same month in 2008.

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