'More new buyer enquiries in April' - buy to let mortgages

12 May 2009

Enquiries from new property buyers went up in April, the latest research has revealed.

According to the Royal Institution of Chartered Surveyors (Rics) Housing Market Survey for last month, new buyer enquiries were at their highest level for almost a decade.

Despite transactions still remaining at relatively low levels compared to previous years, Rics found that 70 per cent more chartered surveyors reported an upturn - rather than a fall - in new buyer enquiries during the course of April.

Rics spokesperson Jeremy Leaf said there are "tentative signs" that the property market is picking up again after months of falling. Indeed, Property Hawk website editor Chris Horne recently suggested that interest for buy to let mortgages remains strong.

"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.

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

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