Has the Conveyancing market turned a corner?

Published: 14/12/2011

Buyer demand has increased for the third consecutive month for the first time since spring 2010, according to the latest survey by RICS UK Housing Market.

7 per cent more surveyors reported an increase in new buyer enquiries than those who saw a decrease whilst 14 per cent more reported an increase in newly agreed sales. The average number of sales per surveyor rose to 15.4 during September, October and November.

Whilst the market remains a shadow of its former self, activity is at currently its best level in 14 months.

On the flip side however, house prices continue to decline with 17 per cent more chartered surveyors reporting a drop. It is not all doom and gloom for sellers though as three-fifths of surveyors believed house prices retained their value in November.

A spokesperson for RICS UK Housing Market commented on the survey:

“It is encouraging that buyer interest has edged upwards in the face of the endless diet of negative news from Europe and the turmoil in financial markets. However, a meaningful recovery still seems some way off.”¹

¹Mortgage Strategy (Dec 2011)

Content correct at time of publication

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