The number of housing transactions continues to grow across the UK property market, according to the latest Royal Institution of Chartered Surveyors (RICS) housing market survey. During January, chartered surveyors across the country reported a further increase in the number of newly-agreed sales, with a net balance of 15% more stating that levels rose. Transactions have now increased for four consecutive months.
In tandem, prices remained broadly stable during the first month of the year. 4% more respondents stated that prices fell rather than rose last month – from -1% – meaning that prices have remained fairly consistent from December. Along with other signs, says RICS, this suggests that the very worst may be over for the market.
Despite this, demand from would-be purchasers has dipped slightly since the start of the new year, with a net balance of 9% of surveyors suggesting that new buyer enquiries fell during January. This was also accompanied by a slight fall in the number of homes coming up for sale, with surveyors suggesting that poor weather may have contributed to the softer figures. Across the UK, prices remained in positive territory in London and the South-east, which was also the case in Wales for the first time since the early part of 2010.