RICS anticipates a strong finish to the year for property market

Chartered surveyors' expectations for future sales reached their highest level since May 2010, on the back of recent government initiatives which could help increase mortgage availability in this country. During September, a net balance of 26 per cent more respondents projected that transactions would rise during the last financial quarter (Q4) of the year.

Surveyors, when asked about prospects for property prices in Q4, expressed greater optimism, with nine per cent more respondents expecting prices to fall in Q4. Although still in negative territory, this is the most positive reading since the time of the expiry of March's stamp duty holiday. The report also reveals that demand from potential homebuyers remained relatively stable across most parts of the UK with four per cent more surveyors across the country seeing increases rather than decreases in new buyer enquiries. It has now been almost three years since interest from would-be purchasers showed any significant growth. The volume of residential properties coming onto the market last month also remained fairly stable, as five per cent more respondents claimed that supply had increased rather than declined. A persisting theme of the housing market in recent months seems to be that transactions are going through where vendors are realistic in their price expectations.

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