House prices rise at fastest pace since 2010

Robyn Hall

June 11, 2013

Chartered surveyors in the UK sold on average 17.9 properties between March and May and predicts further sales rises over the coming months.

A key driver in this jump in activity is the recent upturn in buyers testing the market.

The report said that interest from potential buyers has now risen for the last four consecutive months.

During May 30% more chartered surveyors reported rises rather than falls in new buyer enquiries. This represents the highest number of enquiries since since October 2009

Peter Bolton King, a director at RICS, said: “May was an interesting month for the housing market.

“More people decided to get out there and view property and more transactions went through than in quite some time.

“There is still a very long way to go until we see a full scale recovery but green shoots are beginning to sprout.”

Ben Thompson, managing director of Legal & General Mortgage Club, agreed that the market was starting to show signs of recovery.

He said: “Today’s figures illustrate the continued resurgence we are seeing in the housing market and builds on last month’s data which was the strongest we have seen for three years.

“All indicators are that the market is moving onwards and upwards and this month’s data is no different with the number of properties sold in the UK in the past three months reaching its highest level since January 2010.

“Of course there is still more work to be done but the hope is we have reached a watershed moment and a full recovery is underway.”

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