Interest from buyers has increased for the fourth straight month, according to the Royal Institution of Chartered Surveyors' (RICS) UK housing market survey, with 20% more surveyors reporting a rise than a fall in new buyer enquiries in February.
This is up from 15% in January. The trade body reported interest is strong in nearly every region with interest in London reaching levels not seen since October 2006, as 44% more surveyors reported a rise than a fall in new buyer enquiries, up from 25% in January. RICS explained the rise in interest reflects both the drop in asking prices and continued interest rate cuts. However, the pent up demand has not yet translated into sales. The average number of transactions per agency over the last three months is now at 9.5, a drop from 9.8 in November, and another record low. London agents are ...
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