Uk Home Sales Highest For Six Years, Says Rics

Posted on: 10 February 2017

Just over 21 sales per estate agency branch were recorded in the final three months of 2013, the Royal Institution of Chartered Surveyors (Rics) said.

This was the highest number since March 2008, and up from 9.8 in January 2009.

The survey found surveyors expected prices and sales to keep rising.

Supply shortage

Rising prices - which have been a feature of recent months - have mainly been the result of more buyers chasing the relatively few homes on the market.

"Unless we see a marked increase in the number of homes coming up for sale we could well be looking at a price rises becoming unsustainable in some areas," said Peter Bolton King, global residential director at Rics.

Yet housebuilder Bovis Homes said in a statement on Thursday that the number of new homes being completed was rising, and there had been a big rise in the number of forward sales.

The statement came ahead of its full-year results, which it said would show a "significant increase in profit before tax for 2013".

Its average sale price was up 14% to £195,100, because it had built more homes in the south of England and more larger properties, it said.

Predictions

A number of commentators have predicted average price rises of between 4% and 8% in the UK in 2014.

The latest house price survey from the Office for National Statistics showed that year-on-year property price growth stood at 5.4% in the UK in November.

Excluding London and the south east of England, the ONS said prices were up by 3.1%.

The Bank of England has recently pulled back from offering cheaper funds for lenders to hand on in mortgages through the Funding for Lending scheme.

Source - bbc.co.uk - © 2014 BBC

Share:


Recent Articles

14 January 2022

Energy Efficiency A Big Issue For Landlords In 2022

 It is likely that 2022 will see a number of key announcements which will impact landlords, and the letting industry. One announcement which is expected relates to the change in expected Energy Performance Certificate (EPC) standards for rental property. It is believed that by 2025,...

4 January 2022

Growing Confidence For Landlords

 According to information published by Shawbrook Bank, 34% of landlords are looking to buy at least one new property in 2022. If you are a Crowthorne landlord looking to invest in rental property, or you would like to learn more about the market, we are more than happy to assist you....

26 November 2021

Average House Prices Continues Upwards Movement

 At Frank Schippers, we aim to provide you with as much information as you need to make an informed decision in the housing market. We take great pride in supporting vendors in Crowthorne, and of course, property prices are one of the most important things to consider. Average property...

Request a valuation

Find out how much your property is worth