12 May

Increase in new buyers reported

Increase in new buyers reported

New buyer enquiries were at the highest level for nearly ten years in April, according to the Royal Institution of Chartered Surveyors' (RICS) latest Housing Market Survey.

It prompted the organisation's spokesperson Jeremy Leaf to suggest there are "tentative signs" that the property market is picking up again after months of falling.

Those looking to sell homes may find that they have more interest in their properties as a result, although transactions still remain at low levels compared to previous years.

RICS also found that 70 per cent more chartered surveyors reported an upturn - rather than a drop - in new buyer enquiries in April.

Earlier this month, Halifax indicated that housing has not been more affordable for first-time buyers since the start of 2003.

"Transaction levels could benefit from an increase in supply but falling prices and low interest rates are discouraging sellers as is the latest change in [home information pack] legislation," Mr Leaf explained.
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