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10/12/2008
Rics: Sales fall but interest picks up |
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Buyer interest has increased to a two-year high but the average number of transactions per surveyor fell once again in November, it has emerged.
Over the three months leading up to November 30th, the average number of transactions per agency was 10.6, down from 10.9 in the three months to October.
This represents the lowest figure since the Royal Institution of Chartered Surveyors (Rics) launched its UK housing market survey in 1978.
Rics spokesperson Jeremy Leaf says: "Many are starting to see the current market as an opportunity to purchase a previously unaffordable property despite the worsening economic picture."
He claims that vendors must still face the "inevitable" fact that valuations are in decline and asking prices should reflect the state of the market.
In related news, HSBC has announced it will increase mortgage lending to £15 billion next year - a 20 per cent increase.
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