RICS survey shows house sellers return to market
The number of homes for sale in April rose as potential sellers looked to test the housing market, according to the latest RICS UK Housing Market survey.
Last month, 18 per cent more chartered surveyors reported an increase rather than fall in new instructions, which was up from just four per cent in March.
This sort of market activity is quite normal for spring, although those taking part in the study also highlighted relatively stable house prices as a potential factor in seller movement.
Demand for new homes also seemed to steady somewhat, with enquiries slipping out of the red for the first time in nearly a year to balance at zero per cent.
It was found that viewings in April were boosted by the pleasant weather; however, mortgage lending remained gloomy, with only those with the money for a deposit able to secure a home loan.
Although a brighter forecast is perhaps suggested by average sales per surveyor, which rose to 15.2, the highest value recorded since December.
Furthermore, agreed sales were up slightly in April with eight per cent more surveyors seeing a rise.
RICS housing spokesperson, Michael Newey, said: "The return of sellers to the market is positive, but activity still remains subdued and it is difficult to see it picking up materially over the coming months."
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