Surveyors report strong demand in November
House prices continue to rise as buyer demands increase
Tuesday, 15, Dec 2009 10:30
By Amy Gallivan.
High demand for property helped house prices rise for the fourth month running in November, the Royal Institution of Chartered Surveyors (Rics) has said.
A new survey suggests that in the last six months the number of new orders has increased rather than fallen away, and the demand is still outweighing the supply with 28 per cent more surveyors claiming to have more potential purchasers for property.
Rics state that although the figure for November is down on earlier months, the survey still indicates growing interest from buyers.
Prices have been affected by a supply and demand imbalance and surveyors are reporting higher prices with 35 per cent of them agreeing.
Ian Perry, Rics spokesperson, said: "Despite modest increases in the number of properties coming on to the market, it is clear that this is not significant enough to keep pace with the levels of demand."
The survey pointed to further evidence that the key indicators continue to improve and the pace of these improvements does not seem to be slowing. Despite this, a number of the respondents felt positive about the possibility of the chance of prices dropping marginally
Over the next three months chartered surveyors believe that prices will continue to rise rather than fall with London and the south-east being the most thriving regions.
Mr Perry added: "Buyer enquiries are continuing to grow and with the pace of job losses now easing, the risk is that the new year could see a further wave of interest in the market."