More people now showing confidence in the UK property market

11th Dec 2012

A greater volume of people in the UK are now growing in confidence when it comes to the market for properties for sale it has been claimed as part of the latest released report from the Royal Institute of Chartered Surveyors (Rics).

According to reports from the organisation, despite the fact that demand for UK property in 2012 is still at an historical low, there has been an improvement in the number of people who are making enquiries and viewing houses with the intention to purchase in the last few months.

It said that throughout November there had been an 11 per cent increase in the number of agents who said they were experiencing more demand from their consumers than they had been in the month prior. This helped to offset the low levels of demand that were seen throughout the summer, when it was theorised that the Olympics had captured the imagination of Brits and reduced the number of people who were looking to purchase homes.

The market showed signs of stability elsewhere, with both the volume of houses in the market and the prices that those selling are looking for dropping throughout the course of the past month.

According to the research, four per cent more agents said they had seen more homes come to market than said there had been a decline, showing that there has been only a slight change taking place since October.

It was also found that two per cent more said they had experienced falling prices rather than rises in the month of November.

However, while this was a negative performance, Rics said that it marked slower falls than at other times of the year, which is good news for the market as a whole.

Peter Bolton King, Rics global residential director, said: "There is certainly some optimism creeping back into the housing market, and it is encouraging to see an increase in potential buyers across parts of the country where the market has particularly suffered in recent years. That said, there is still a long way to go and the long standing barriers to home ownership are still very much a problem for the likes of first time buyers."

Posted by Staff Writer: ADNFCR-1286-ID-801504511-ADNFCR

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