22 Sep

House sales expectations 'are improving'

House sales expectations 'are improving'

People with houses for sale in the UK can breathe a sigh of relief after it was suggested that the market could be improving.

Simon Rubinsohn, chief economist for the Royal Institution of Chartered Surveyors (Rics), said that the housing industry in Britain is not all doom and gloom.

He stated: "Despite on-going concerns about the prospects for the economy, the latest Rics Housing Market Survey showed sales expectations are improving."

Mr Rubinsohn also mentioned the recent data produced by the HM Revenue & Customs, which revealed that in the three months leading up to June 2010, there were 249,000 property transactions on buildings worth more than £40,000.

While this is an increase on the number achieved during the same period last year, it continues to be below the figure reached over the second quarter in 2008 when there were 304,000 transactions.

Mr Rubinsohn recognised that despite the expectations of chartered surveyors, these findings demonstrate "the subdued level of activity in the residential property sector". ADNFCR-1222-ID-800077136-ADNFCR

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