RICS:Best quarter for house sales in 3 years

Sam Cordon

April 9, 2013

The survey found that an average 17.4 homes were sold in each of the first three months of the year whilst prices remained broadly stable.

RICS said that its seasonally adjusted house price balance for March rose to -1 from -7 in February implying that roughly equal numbers of its members reported price falls and price rises over the preceding three months.

RICS also said that enquiries had risen following a “subdued” start to the year.

Peter Bolton King, of RICS, said: “A buoyant, healthy property market is central to economic recovery and while these are still very much early signs it is encouraging that sales are beginning to pick-up.”

The RICS survey broadly tallies with those from mortgage lenders Halifax and Nationwide which both reported that house prices in March were around 1% higher than a year earlier.

Andy Knee, chief executive of LMS, said: “The latest figures from RICS show that, despite the year getting off to a relatively slow start, there has been a significant increase in the number of new buyer enquiries during March.

“Undoubtedly it is the current competitive rates that are enticing new customers into the market. Once again the London market is out-performing the rest of the country in terms of house prices.”

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