‘Solid rise’ in homes being put on the market as buyer inquiries grow
February’s report indicates ‘some grounds for encouragement around the sales market’, the Royal Institution of Chartered Surveyors said.
A “solid rise” in sellers putting their homes on the market was seen in February, with the strongest upswing recorded since autumn 2020, according to surveyors.
A net balance of 21% of property professionals reported new instructions to sell rising rather than falling, marking the strongest reading since October 2020, the Royal Institution of Chartered Surveyors (RICS) said.
This finding is in contrast to the continuously negative picture cited throughout 2023, RICS added.
On average, estate agents’ branches had 42 properties, the highest number recorded by RICS since February 2021, with those surveyed noting an increase in market appraisals during the month, compared with the same period last year.
Across the UK, new buyer inquiries grew for the second month in a row, with a net balance of 6% of professionals reporting a rise rather than a fall.
Most areas of the UK have shown a recovery in buyer interest over the past two months, the report said.
However, home sales were broadly flat in February, with a balance of 3% of professionals reporting a decline rather than an increase.
