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UK Residential Property Boom Back On Track

LONDON-House buyers throughout the country have once again set their sights on a new home as RICS members report an upsurge in new enquires, says the latest RICS residential housing survey.

By Charlie Jacoby | Updated on January 28, 2002

LONDON-A growth in new enquiries for houses and flats across the UK reflects general optimism from buyers as the economy continues to hold firm, interest rates remain low and the stock markets recover from the autumn downturn. That’s the conclusion of new research by the Royal Institution of Chartered Surveyors.

More chartered surveyor estate agents reported price rises than in the previous month, with the difference between those reporting a rise against those reporting a fall at 13%, up from 2% the previous month.

Average completed sales for the month per contributor remained the same as in November at 36, but still 6% up on three months before. The average number of houses on contributors books rose by two to 76, reflecting the fact that the increase in enquiries had yet to be turned into firm sales.

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