• Home >
  • UK property >
  • Home buyer enquiries rise to highest level for almost a decade
Twitter Facebook RSS FEEDS

Home buyer enquiries rise to highest level for almost a decade

Tuesday, 12 May 2009 8:05 AM

New enquires by home-buyers rose to the highest figure for almost a decade, with sales picking up gradually.

The Royal Institute of Chartered Surveyors (Rics) discovered 41 per cent of chartered surveyors reported a rise rather than a fall in new buyer enquires, up from 32 per cent in March.

Although sales of homes still remain at historically low levels, there has been a small increase in the number of homes being sold for April. Surveyors sold an average of 10.6 properties over the past three months, up from 9.7. Rics also found the key market indicator of sales to stock ratio had risen for the fourth consecutive month, "indicating that some stabilisation on prices may occur later in the year".

There was positive news for house prices, with just 59.9 per cent of surveyors reporting a fall rather than a rise, down from 72.1 per cent in the previous month.

James Hyman, partner for residential sales at Cluttons, said: "Today's Rics figures confirm that buyers are back in the market. However, a shortage of property prevails and sellers should take this opportunity to market their properties to buyers who are taking advantage of low interest rates. Heightened competition for quality properties is resulting in faster sales and a stabilisation of prices."

In London, the second highest figure ever recorded by Rics was seen with 70 per cent more surveyors seeing a rise than a fall in enquiries for London property.

Lee Bramzell, chief executive of PropertyIndex.com, said: "The Rics data supports the view of the vast majority of our agents: buyers are returning to the market, not just to look, but to buy.

"Despite continuing economic uncertainty, there are plenty of people out there who want and need to buy a home, and they want to take advantage of low prices before the market begins to rise."

The controversial changes to the Home Information Pack (Hip), brought in on April 5th, were blamed for a fall in stock; "Anecdotal evidence suggest the fall in new vendor instruction this month is due to the change in the rules governing Home Information Packs that were introduced", said Rics.

Rics spokesperson Jeremy Leaf said: "There are tentative signs that the market is starting to pick up but transactions remain at very low levels and we are unlikely to see significant improvement while money remains in short supply and the employment picture is uncertain.

"Transaction levels could benefit from an increase in supply but falling prices and low interest rates are discouraging sellers as is the latest change in HIPS legislation. House prices could stabilise in the coming months but prospective purchasers - and first-time buyers particularly - will continue to encounter challenges while banks maintain current loan to value ratios and make accessibility difficult even for those who have accumulated considerable equity in their existing properties."

Related stories

Price of terraced homes rose £118 a day over the last decade, says Halifax survey. Image: Thinkstock

Terraces see highest house price rise

Price of terraced homes rose £118 a day over the last decade, says Halifax survey.

 House

Mortgages at most affordable level in a decade

Low interest rates mean mortgages take the lowest proportion of Brits' salaries in 10 years - but watch out for rate rises, bank warns.
Couple looking into an estate agent's window

Estate agents report rise in buyer enquiries

There was more demand and less supply in March, with first-time buyers accounting for a smaller proportion of completed transactions.

 UK property front door open

Mortgage lending at lowest level in over a decade

The monthly number of home loan approvals is half that of the late 1990s, and the market could remain tough for some time, say experts.
House hunting couple

UK house prices rise 91% in a decade

The average asking price has rocketed by £78,000 since the turn of the century - despite the effects of the economic downturn.

 Average deposit has risen twice as fast as house prices and almost four times as fast as incomes, says First Direct. Image: Thinkstock

Housing deposits rise tenfold in 20 years

Buyers hit as average deposit rises twice as fast as house prices and almost four times as fast as incomes, says First Direct.

Almost half of people questioned think that property prices in their local area are above fair and reasonable levels.

Surge in buyers expecting house prices to rise

One in three home movers now expect prices to be higher in a year’s time, says Rightmove.

 Cottage on Knoydart peninsula in the West Highlands boast breathtaking views but owner warns buyers that life can be hard. Image: Thinkstock

Remotest home in Britain goes up for sale

Cottage on Knoydart peninsula in the West Highlands boast breathtaking views but owner warns buyers that life can be hard.

House prices in market towns have risen by £1,000 a month on average over the last decade, say Lloyds TSB. Image: Thinkstock

Market towns enjoy £1,000 a month house price rise

Over the last decade house prices in market towns have risen by £1,000 a month on average say Lloyds TSB.

 Terraced grey brick houses

Signs of recovery for first-time buyer mortgages

First time buyers with smaller deposits are enjoying the first signs of recovery in the mortgage market, according to new analysis.

Search property

Headlines

Directory

Alaris

Alaris Logo
Alaris specialise in quality Bathrooms and Kitchens along with many other unique products for your home. The range of kitchens, kitchen worktops and bathrooms is extensive and the highest quality so you are sure to find what you want. New bathroom furniture, bathroom suites, taps, showers and cabinets are added regularly.

Bathrooms365

Bathrooms365 Logo
Bathroom365 supply all areas of your new bathroom - leading-edge designed bathroom suites, stylish bathroom taps and showers, all styles and forms of shower enclosures and a vast collection of bathroom furniture.

Fitmykitchen

Fitmykitchen Logo
Fitmykitchen are specialist suppliers of kitchen appliances, sink taps, waste bins and furniture. So whatever you want from kitchen sink taps to waste bins look no further than fitmykitchen, UK, the specialist suppliers of kitchen appliances, stainless steel sink taps, waste bins and kitchen furniture.

MyStampDuty

MyStampDuty Logo
We help people buying property all over the UK to minimise Stamp Duty Land Tax on residential and commercial property. If you are looking at purchasing a new home or business premises over £500,000, contact us today by completing the form on the right

Oak Furniture Land

Oak Furniture Land Logo
For hardwood furniture, including Solid Oak, Mango, Mahogany, Sheesham, Acacia, Ash and Birch, look no further than Oak Furniture Land.

Rated People

Rated People Logo
Whatever type of home improvement or garden remodelling project you have, Rated People can help you to identify the right tradesmen for the job in a way that is quick, easy, convenient and, as it is based on real-life recommendations, trustworthy.

Residential Land

Residential Land Logo
If you are looking for short or long term rentals in Central London, Residential Land have a portfolio of over 1200 flats and houses in the best postcodes across the Capital.

Simply Bedrooms

Simply Bedrooms Logo
Simply Bedrooms, a part of Sleepwell Bedrooms Ltd, supplying quality beds, wardrobes, sliding door wardrobes and bedroom furniture at low prices and great service, London and Home Counties Specialists.

Door Handles UK

Door Handles UK Logo
Door Handles UK is the UK's largest online range of Door Handle accessories, Door Hinges, Locks and Latches and so much more and all at genuine internet prices. We have a wide range of Chrome, Brass and Glass Crystal Mortice door knobs in both traditional and contemporary designs, whatever your taste and budget you will find a design to suit.

Woodlands Furniture

Woodlands Furniture Logo
We are an established family business situated in rural Herefordshire specialising in beautiful handcrafted classic reproduction furniture. Our comprehensive ranges are readily available from stock.

WowBBQ

WowBBQ Logo
Welcome to the World of Weber. We are the largest independent online Weber BBQ retailer in the United Kingdom. WOWbbq.co.uk is a Weber Partner Store and can give you the best advice for all your Weber BBQ needs.

Join our directory aboutproperty.co.uk

Twitter

Join the conversation at #aboutproperty

Directory articles

What do you need to consider when buying a mattress?

If you looking for a new mattress, you need to get the decision right, as getting it wrong could impact on your overall health and wellbeing. As well as comfort and size, you also need to consider other points, such as any health issues you may have.

FAQs about commercial stamp duty

If you want to relocate to larger premises, you need to know about commercial stamp duty. Different rates apply than with residential property, however, like residential buyers, you could potentially benefit from stamp duty mitigation.

Save space with a small bathroom suite

Most people dream of having spacious bathrooms with a freestanding tub and a separate shower cubicle where you can relax in pure luxury. However, the reality is that bathrooms are rarely as big as we'd like them to be. Here are some tips on how to make the most of a small bathroom.