Positive signs from RICS

The latest RICS Housing Market Survey shows that activity is picking up across the market whilst prices remain reasonably flat.

The results have led them to reassess expectations for the next year with an expectation that, at least in the near term, the risks to activity and prices are very slowly shifting northwards.

The Funding for Lending Scheme (FLS) may have played a large part in this but is not thought to have been the only factor causing the improvements.

RICS pointed to the impact of benchmark mortgage rates beginning to drift downwards and the likely increased availability of credit.

The headline national price balance improved slightly from -14 to -7 meaning 7% more surveyors reported a fall rather than a rise in prices over the last three months.

However, the breakdown of the data reveals that 67% of respondents reported no change.

New buyer enquiries and agreed sales both increased at their fastest pace since December 2009.

Whilst as always significant regional variation can be shown more regions recorded positive readings than last month.

Today's Conveyancer