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House sales hit six-year high as prices rise

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House sales hit six-year high as prices rise

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Published by Max Salsbury for 24dash.com in Housing

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The average number of houses sold per chartered surveyor jumped to its highest level in six years during the first three months of 2014, according to the latest RICS residential market survey.

And 57% more chartered surveyors saw prices increase with prices in the South West and East Midlands demonstrating the most noticeable growth.

On average, 22.7 homes sold per chartered surveyor in the three months to March, the highest number since February 2008.

The number of buyer enquiries increased across the whole of the UK, with the exception of Wales, where interest remained static.

Simon Rubinsohn, RICS chief economist, said: “Now that the housing market recovery is well and truly underway and mortgage finance is more readily available, buyers seem to be looking to test the market right across the country, not just in the usual hot spots of the South East.

"That said, it is a major concern that we are not seeing enough houses coming onto the market. For the market to operate effectively, we desperately need more homes in areas where people want to buy and want to live. Until this happens we’re likely to see prices to continue to increase and it is going to be ever harder for many first time buyers to conceive of ever owning their own home.”

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