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24/12/2008
House price sales 'could climb 10% next year' |
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The Royal Institution of Chartered Surveyors (Rics) has suggested that the decline in transaction activity may have finally reached rock bottom.
Recent housing market surveys from Rics have suggested that there could be an increase in sales of more than ten per cent in 2009, as movement in the market recovers.
However, the organisation has warned that lenders' continued caution and the darkening economic clouds is likely to result in further house price falls of around ten per cent over the next 52 weeks.
Rics chief economist Simon Rubinsohn said: "Transaction levels do seem to have hit a floor with some signs that opportunistic investors are returning to the market."
He added that he expects a "modest rise in sales over the course of the next year from the very low levels seen in recent months".
Meanwhile, Helen Adams, managing director of FirstRungNow.com, has claimed that the government is doing all it can to support the economy, encourage lenders to lend and buyers to buy.
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