HOUSING market activity in Yorkshire is picking up– but the rise in prices is slowing down.
The latest survey from the Royal Institution of Chartered Surveyors showed that a balance of 44% of members in the region reported a rise in new instructions last month compared with 30% in February.
The number of new buyer enquiries fell slightly to 14% from 17%.
Nationally, a balance of 21% of surveyors saw a rise in new instructions, which is an increase on the 16% reported in February, New buyer enquiries stabilised in March.
A large proportion of the UK’s surveyors said that political uncertainty was persuading vendors to market their property before the impending General Election.
That had resulted in many of the housing market indicators remaining positive or stable.
The survey revealed a significant variation in regional price trends.
Prices are rising in London, the South-east and Scotland, but falling in Yorkshire, East Anglia, the North and the West Midlands.
Activity in Yorkshire is expected to pick up further over the coming months – with most of the area’s surveyors expecting prices to stabilise.
RICS spokesman Mark Hunter said: “During March, we have experienced a considerable increase in sales.
“The general public has started noticing more ‘sold notices’ and the perception that the market is improving has a huge positive effect on consumer confidence, which goes a long way to encourage vendor activity.”
Said Mr Hunter: “Contrary to popular perception, Easter is not a busy period as most people wish to holiday or rest after a long winter.
“But we look forward from mid-April onwards with renewed confidence.
“Usually the residential property market is the first into recession and one of the first out of it.”