Survey indicates property sales will improve

The Royal Institution of Chartered Surveyors (Rics) has indicated that members feel more confident about sales of UK property over the next three months than they did in July.

 

This is despite 32 per cent more chartered surveyors reporting prices falling rather than rising throughout August.

A fifth (18 per cent) of those surveyed indicated that they expect sales to improve over the three months to December 31st.

Commenting on the findings, Rics spokesperson Jeremy Leaf explained: “There can be little doubt that the restrictive attitude to the provision of mortgage finance will continue to limit transaction activity in the market.

“Looking forward, our price indicators are telling a mixed story which is consistent with the uncertainty hanging over the economy, the low level of interest rates and the lack of new house building”.

Recent research by the Building Societies Association indicated that mortgage availability was less of a concern for prospective homebuyers in the current economic climate than it was earlier in the year.