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House sales hit six-year high

The number of houses sold has jumped to its highest level for six years, according to the latest report from the Royal Institution of Chartered Surveyors.
On average 22.7 homes sold per chartered surveyor in the three months to March, the highest number since February 2008.

The number of buyer enquiries increased across the whole of the UK, with the exception of Wales, where interest remained static.

57% more chartered surveyors saw prices increase with prices in the South West and East Midlands demonstrating the most noticeable growth.

Simon Rubinsohn, RICS Chief Economist, said: “Now that the housing market recovery is well and truly underway and mortgage finance is more readily available, buyers seem to be looking to test the market right across the country, not just in the usual hot spots of the South East.

“That said, it is a major concern that we are not seeing enough houses coming onto the market. For the market to operate effectively, we desperately need more homes in areas where people want to buy and want to live. Until this happens we’re likely to see prices to continue to increase and it is going to be ever harder for many first time buyers to conceive of ever owning their own home.”

About Fiona Russell-Horne

Fiona Russell-Horne
Group Managing Editor across the BMJ portfolio.

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