Expectations of sales rise continue
Expectations that sales in the property market will pick up are
rising, the Royal Institution of Chartered Surveyors (RICS) has
In its latest monthly survey, RICS said the number of transactions
per agency was down again in October at 10.9 each, compared with
11.5 in September.
However, it also found that 20 per cent more chartered surveyors
are expecting an upturn in sales in the next three months than
anticipating a further fall, compared with a positive balance of
four per cent last month.
Commenting on this, RICS spokesman Ian Perry said improved
affordability will underpin the market as asking prices come down,
predicting: "Sales should increase in the coming months as more and
more sellers understand that greater realism is the only way to
make that long desired move."
Yesterday the National Association of Estate Agents called on
chancellor Alistair Darling to suspend stamp duty to help increase
transactions, particularly for first-time buyers.