Buyer demand and sales ‘lift in November’

Tuesday, 13 December 2011 10:02

Home buyer demand and property sales both experienced a boost in November, new figures reveal.

According to the Royal Institution of Chartered Surveyors’ UK housing market survey, new buyer inquiries rose for the third consecutive month, while newly agreed sales also increased.

But RICS warned that ongoing economic uncertainty is still holding the property market back from any significant recovery.

Housing spokesman Alan Collett said: “It is encouraging that buyer interest has edged upwards in the face of the endless diet of negative news from Europe and the turmoil in financial markets.

“However, a meaningful recovery still seems some way off.”

The survey also shows that house prices are still falling in most parts of Britain, with property values in Yorkshire and Humberside, the West Midlands and the South West hit hardest.

Meanwhile, London remains the only region where property prices are still on the rise, the RICS report suggests.

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