9 Dec

Buyer demand up for first time in two years

Buyer demand up for first time in two years

The latest Royal Institution of Chartered Surveyors survey has revealed the first increase in the number of prospective buyers registering an interest in over two years.

Data for last month has found that the number of surveyors reporting a rise in prospective buyers was 14 per cent higher than the number reporting a decrease.

This contrasts with October when the majority seeing a drop was nine per cent.

Such a trend may have come about as a result of the falls in house prices during recent months, as well as cuts in interest rates.

To translate into more house sales, this may require a greater commitment to mortgage lending from banks and building societies.

One such pledge was made yesterday by HSBC, which plans to raise its lending by 20 per cent next year.

Head of mortgages at moneysupermarket.com Louise Cuming said the move should be seen as "a benchmark for the UK's seven bigger lenders to follow".

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