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More Buyers But Less New Property For Sale In September
Concerns over a double-dip recession led to fewer people putting their homes on the market in September, according to the latest figures from the Royal Institution of Chartered Surveyors (Rics), but in spite of this there was an increase in the number of people seeking property for sale.
Three per cent more chartered surveyors reported an increase rather than a decrease in demand, although they noted that large deposits are still acting as a barrier to some buyers.
Meanwhile, the house price balance remained unchanged in September, with 23 per cent more surveyors saying prices fell rather than rose, while price expectations were also unchanged.
“Although it is hard to see what will give the market a lift in the near term, the announcement of a further raft of quantitative easing from the Bank of England will help to at least keep mortgage rates down,” said RICS housing spokesperson Michael Newey.
Last month, Rics called for the regeneration of the Olympic Park Site to provide a lasting legacy in East London after the 2012.
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Article date: 10/19/2011 12:00:00 AM