9 Mar

UK property supply 'on the rise'

UK property supply 'on the rise'

The supply of houses, potentially including apartments for sale in London, is rising.

This is according to the Royal Institution of Chartered Surveyors (RICS), which suggested that new instructions rose last month.

For the second month in a row, the number of homes coming on to the market outpaced the number of new buyer enquiries, the organisation revealed.

In addition, 17 per cent more chartered surveyors reported a rise than a fall in house prices.

The majority of regions across the country experienced increases in the value of their residences over the 28-day period, RICS said.

Responding to the figures, spokesman for the organisation Jeremy Leaf stated: "Most market indicators are still positive and consistent with further house price increases."

Recently, RICS suggested that the number of properties being sold in the UK could reach 70,000 per month by the end of the year, which would be up by nearly 10,000 compared with the end of last year.

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