Surveyors report increase in house prices - 12/5/09

Author: Jeni Browne Posted on: 12 May 2009

There have been lots of conflicting reports from various recognised house price indexes of late, reporting property price increases and in the same month  decreases, from a different institution.  And lets face it, even if we went one month when they all reported a increase, one swallow doesn't make  a summer.  However the Royal Insitute of  Chartered Surveyors are getting behind the team and giving their perception of events based on a survey of its members.  And its good news.

Rics spokesman Jeremy Leaf has said that "Transactions remain at very low levels, and we are unlikely to see significant improvements while money remains in short supply and the employment picture is uncertain,"   However, surveyors remained upbeat about the potential for new business. The survey showed that enquiries by potential new buyers had increased for the sixth consecutive month.

Some 41% more surveyors reported a rise, rather than a fall, in new buyer enquiries in April, up from 32%. This was the highest figure for almost a decade.

The increase came in every region in England and Wales - especially London, East Anglia and north west of England - except the north of England. A regional breakdown showing the situation in Scotland and Northern Ireland is not provided by Rics.

Newly agreed sales also rose in April, and expectations of sales in the coming months were in positive territory in every region in England and Wales.

It wouldn't be wise to hang out the bunting and bang the 'we are saved drums' just yet, but once again, things are definitey looking like they are going in the right direction.

Author: Jeni Browne