15 Sep

Property sales 'could start to pick up'

Property sales 'could start to pick up'

The number of people buying houses for sale in the UK could start to rise, a report has suggested.

According to the latest Rics UK Housing Market survey released yesterday (September 14th 2010), the current decline in property values could lead to more people parting with their money.

The findings revealed that 32 per cent more chartered surveyors recorded house values falling in August than in July.

This is the biggest drop in prices since May 2009.

Jeremy Leaf, a spokesperson for the group, said: "The latest set of results suggests prices in many parts of the country may be slipping but this does appear to be encouraging hopes amongst surveyors that sales levels could begin to pick up as a result."

The report revealed that 18 per cent more surveyors anticipated the number of people buying property to rise over the next quarter - an increase of eight percentage points from July.

Homebuyers could also be encouraged to get onto the property leader after Robert Sinclair of the Association of Mortgage Intermediaries suggested that big loan providers are continuing to lend money for house purchases. ADNFCR-1222-ID-800066149-ADNFCR

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