Spring sees sellers return to housing market

Posted: 10 May 2011 12:14:34 GMT

Sellers have returned to the housing market in spring, it has been found.

Spring has seen many sellers return to test the water of the housing market, new data has suggested.

The latest Royal Institution of Chartered Surveyors (Rics) UK Housing Market survey showed that supply of property increased during April, with 18 per cent more chartered surveyors reporting a rise - rather than a fall - in new instructions.

This amount was up from the four per cent escalation recorded in March - and many respondents to the poll noted that a stabilisation in property prices has played a part in the pick-up.

Michael Newey, Rics housing spokesman, said: "The return of sellers to the market is positive, but activity still remains subdued and it is difficult to see it picking up materially over the coming months."

He added that there is still a long way to go before lending levels rise by a significant amount in order to have a considerable impact.

The Land Registry's House Price Index recently indicated that house prices in England and Wales dipped by 1.1 per cent in March.
 

© Houseladder Ltd