New instructions increase for surveyors, report finds
The latest housing market survey released by the Royal Institution
of Chartered Surveyors (RICS) has revealed that the number of new
properties coming up for sale increased in November.
Chartered surveyors reported the sixth consecutive monthly rise in
new instructions, although enquiries from potential buyers also
increased in the same period.
Consequently, RICS commented that the rise in properties on the
market has not prevented house prices creeping up, with 35 per cent
of respondents agreeing that this is the case.
RICS spokesperson Ian Perry said: "The survey points towards prices
rising, even though the general state of the economy would suggest
that the housing market should not be faring as well as it
He added that stabilisation in the job market and the continual
increase in interested purchasers could lead to renewed activity in
2010, potentially pushing house prices higher if more properties
fail to enter the market.
Figures released by the Land Registry at the end of November
revealed that average UK house price increased by 0.6 per cent in
October, for the fifth consecutive month.