The latest RICS report predicts that house prices will continue to climb across the UK until the country’s supply of property for sale improves. Indeed, demand for UK property is now at its highest level in six years, with an average of 22.7 homes sold per surveyor – the biggest average since February 2008.
The extent to which the UK housing market has improved is evident from just how widespread buyer demand has become: all parts of the UK saw buyer enquiries increase last month, except for Wales, where growth remained steady after months of strong growth.
While activity is now showing encouraging signs of life in areas that were previously fairly stagnant, though, the lack of homes coming onto the market is beginning to become an increasingly major obstacle to recovery. New instructions from sellers fell in March, a sign that the spring bounce has not materialised, despite overwhelmingly positive sentiment.
“Now that the housing market recovery is well and truly underway and mortgage finance is more readily available, buyers seem to be looking to test the market right across the country, not just in the usual hot spots of the South East,” says Simon Rubinsohn, RICS Chief …read more
Source: The Movechannel