RICS report increased enquiries

Graham Ruddick wrote in The Daily Telegraph on 13th December 2011 that the:

RICS reports more house buying enquiries. The number of people making enquiries about buying a home in the UK is rising at the most sustained rate since spring 2010 despite the eurozone debt crisis, according to estate agents.

In November, 7pc more surveyors reported a rise in buyer enquiries than a fall, while 14pc more surveyors also said the number of sales they agreed rose compared to the previous month.

This means that enquiries have grown for three consecutive months for the first time since last spring.

The Royal Institution of Chartered Surveyors said the figures were “encouraging” given the “endless diet of negative news from Europe and the turmoil in financial markets”.

However, it warned a “meaningful recovery still seems some way off”. According to the RICS survey, 17pc more agents reported a decline in house prices rather than an increase last month. In addition, 21pc more surveyors expect house prices to fall further this month.

Mortgage provider Halifax forecast on Monday that house prices will be flat in 2012. It predicted a range of -2pc to +2pc in 2012 with growing unemployment cancelling out the benefits of low interest rates on mortgages.