11 Nov

Expectations of sales rise continue

Expectations of sales rise continue

Expectations that sales in the property market will pick up are rising, the Royal Institution of Chartered Surveyors (RICS) has revealed

In its latest monthly survey, RICS said the number of transactions per agency was down again in October at 10.9 each, compared with 11.5 in September.

However, it also found that 20 per cent more chartered surveyors are expecting an upturn in sales in the next three months than anticipating a further fall, compared with a positive balance of four per cent last month.

Commenting on this, RICS spokesman Ian Perry said improved affordability will underpin the market as asking prices come down, predicting: "Sales should increase in the coming months as more and more sellers understand that greater realism is the only way to make that long desired move."

Yesterday the National Association of Estate Agents called on chancellor Alistair Darling to suspend stamp duty to help increase transactions, particularly for first-time buyers.

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