Friday, 20 July 2018

Housing market is on the up-and-up, comment surveyors

THE number of homes sold per chartered surveyor reached its highest point since March 2008 at the end of last year, as the recovery in the nation’s property sector continued full steam ahead, according to December’s Royal Institute of Chartered Surveyors’ residential market survey.

Over the festive period, the average number of transactions per surveyor reached 21.3, more than double the lowest point of the downturn back in January 2009 when respondents were selling a mere 9.8.

With more sales now going through, growth in demand for rented accommodation has begun to slow significantly as a growing number of renters opt to test the sales market.

Respondents note that increased confidence is a key driver behind growing activity.

Meanwhile, with the amount of homes coming on to the market still nowhere near enough to meet the higher level of demand, prices continue to rise across the country.

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