Reflecting the increased levels of enquiries that we have received for Building Surveys and HomeBuyer reports the most upbeat residential market report for years has been published by RICS. They say that expectations for future house price growth hit a more than 14-year high during November as the amount of homes coming on the market fell short of rising buyer demand.
RICS carry out a regular monthly research among their members and in November 59% more chartered surveyors across the country predict prices will maintain an upward trend. The report says that this is the highest nationwide percentage suggesting a sustained upward trend since September 1999 and illustrates the difficulty of recovering demand and falling supply.
The report continues that last month prices picked up sharply with more than 58% of those asked reporting price growth.
The whole of the UK saw prices rise for the second successive month although there are some areas of the UK that are still struggling RICS suggests that the regional markets are now responding to government incentives and better economic news.
Looking ahead, with the economic recovery gaining some traction right across the UK, a majority of surveyors questioned expected sales levels to increase as we head into the New Year.