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Surveyors hint at upturn in property market

13th November 2012 | back to article listings BACK    print this article PRINT

The UK property market is bracing itself for a long-awaited upturn, as demand from would-be home-buyers has risen at its fastest rate in almost three years, and the Royal Institution of Chartered Surveyors (RICS) said hopes have been boosted of a Christmas and New Year sales rush.

During October, a "considerable rebound" of interest was reported by surveyors, with 18% more of them reporting an increase in new buyer enquiries than those reporting a reduction, according to the latest RICS housing market study.

RICS reported that much of the UK is now seeing a strong increase in people potentially interested in property investment, and looking to test the pre-Christmas market.

The biggest surges in demand were seen in the North East and West Midlands where a net balance of 56% and 35% of surveyors respectively reported rises in interest rather than falls.

However, not all of the UK experienced the same level of increased buyer demand, with Northern Ireland and Scotland bucking the improved trend elsewhere, according to the research.

Copyright Press Association 2012

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