Rise in activity for UK housing market

Posted: 09 Nov 2011 12:34:48 GMT

House sales in the UK rose throughout October, new figures have shown.

The UK housing market witnessed a significant rise in activity during October, new research has indicated.

According to the latest Royal Institution of Chartered Surveyors (Rics) Housing Market survey, the month saw sales levels rise and demand creep up.

It was found that eight per cent more chartered surveyors recorded newly-agreed purchases increased rather than fell during the period - representing the most encouraging reading since April last year.

Completed sales also upped to an average of 15 per surveyor over the last three months.

Ian Perry, housing spokesman for Rics - which has more than 100,000 qualified members - said: "It is encouraging that activity levels appear to have edged upwards over the past month. Indeed, chartered surveyors are generally upbeat about the near term prospects for transactions."

However, the industry figure pointed out any recovery in sales is likely to be subdued due to the threat of the eurozone crisis spilling over into the UK.
 

© Houseladder Ltd