RICS reports further rise in buyer enquiries and sales

Jun 10 2009 by Henryk Zientek, Huddersfield Daily Examiner

ESTATE agents in Yorkshire have reported a further increase in new buyer enquiries and sales.

The latest housing market survey by the Royal Institution of Chartered Surveyors also reported a reduction in the level of stocks on surveyors’ books.

The update follows comments from Huddersfield agents, who have also reported more activity in the market.

The number of chartered surveyors in Yorkshire and Humber seeing an increase in new enquiries edged up again in May – with 50% reporting a rise rather than a fall, the seventh consecutive monthly gain.

Sales also rose – although that was from very depressed levels.

The average numbers of properties sold per surveyor over the past three months rose to 15 from 14 – better than the national average of 11.8.

At the same time, the net balance of surveyors reporting a fall in house prices in the region changed from minus 58.7% to minus 44.1%.

The number of new instructions also continued to fall – with the average number of properties on surveyors’ books dropping in the past month to 88 from 102.

The RICS said that the lack of new supply – coupled with the increase in activity – was now providing some support for house prices.

James White, of Ryder & Dutton with offices in Huddersfield and Holmfirth, said: “The market decline is slowing down. Transaction levels are approximately twice what they were a year ago, but half of a normal market.