RICS: New buyer enquiries dip in Jan

Sam Cordon

February 12, 2013

Of those surveyed 9% more valuers suggested that new buyer enquiries fell in January compared to respondants in December.

This was also accompanied by a slight fall in the number of homes coming up for sale with surveyors suggesting that poor weather may have contributed to the softer figures.

However surveyors reported a further increase in the number of newly-agreed sales with a net balance of 15% more surveyors stating that levels rose, which RICS reported is for the fourth consecutive month.

Peter Bolton King, RICS global residential director, said: “Price falls across the UK have gradually stemmed in recent months and it is interesting to see that the amount of completed transactions are on the rise as confidence returns to the marketplace. While it is still very early days to talk about a comprehensive market recovery activity levels are still encouraging and there is some optimism out there that things could continue to improve.”

Results from the survey showed that house prices remained broadly stable during the first month of the year with 4% more respondents stating that prices fell rather than rose last month, from -1%.

This means that prices have remained fairly consistent from December which King said suggests that the very worst may be over for the market.

Looking ahead chartered surveyors are optimistic that the price stability seen in recent months will persist over the coming three months and, more significantly, they anticipate prices beginning to move a little higher as the year wears on.

Meanwhile future transaction levels are expected to remain on an upward trajectory.

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