10 Mar

Buyer interest 'grows again'

Buyer interest 'grows again'

Interest in buying a home in the UK has shown new signs of increasing, fresh research has indicated.

The latest survey by the Royal Institution of Chartered Surveyors (RICS) showed that in February, the level of interest in buying was up for the fourth successive month, as 20 per cent more surveyors reported an increase in enquiries than recorded a decrease.

This majority rose from 15 per cent in January and the pattern was particularly notable in London, where 44 per cent more surveyors saw interest rising.

RICS commented that the trend was the result of lower house prices and interest rate cuts, although it noted that the number of sales per agent was down again from 9.8 in January to 9.5 each.

Such contrasting figures may suggest a large amount of pent-up demand, which could lead to a major recovery in time.

Last week Halifax figures for February indicated a further increase in affordability, with prices dropping by 2.3 per cent during the month.

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