4 Mar

RICS: Property sales will rise

RICS: Property sales will rise

The number of property sales in the UK is set to rise over the coming months.

This is according to the Royal Institution of Chartered Surveyors (RICS), which predicted that monthly conveyancing transactions should rebound in the near future and may well end the year close to 70,000.

If this turns out to be the case, it will be an increase of nearly 10,000 compared with the end of last year.

RICS chief economist Simon Rubinsohn said: "The likelihood is that prices will resume an upward trend albeit at a more modest pace than seen during the latter part of 2009."

Despite the fact that the supply of homes is rising, prices will not be negatively affected, the expert suggested.

Recently, Nigel Ellis, director at Pricket & Ellis, noted that there is currently high demand for expensive properties in the UK, with a shortage of residences worth £600,000 or more.

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