24
Dec
Transaction levels to rise, say Rics
The Royal Institution of Chartered Surveyors (Rics) has predicted
that housing transactions will start to rise again in 2009.
In its set of predictions for the year ahead, Rics forecast that
house prices will go on falling, something that could help increase
affordability for first-time buyers, although it did state that
lending will remain subdued.
Tipping an increase in transactions of ten per cent, Rics senior
economist Simon Rubinsohn said: "Transaction levels do seem to have
hit a floor with some signs that opportunistic investors are
returning to the market."
The implementation of the Crosby report recommendations should have
some positive impact on the availability of lending, he
added.
Earlier this week Miller Homes stated that it had seen an increase
in buyer interest, which it believes bodes well for the
future.
It commented that this is linked to lower interest rates, with a
surge in enquiries noted in the aftermath of November's 1.5 per
cent increase.
