Buyer interest yet to lead to increased purchases

Although buyer interest is up in the housing market, and has steadily increased over the last 3 months, this interest is yet to transfer into an increase in actual purchases, with the average number of transactions per agency holding steady over the last 3 months, currently at 9.9, according to the Royal Institute of Chartered Surveyors (RICS).

RICS spokesperson Jeremy Leaf says “The latest survey provides further evidence of the eagerness of buyers to try and pick up bargains."

With current economic difficulties, some optimistic news is most welcome. At least the increase in buyer interest shows a slight boost in confidence and hopefully this interest, combined with the falling base rate and the government's loan guarantee scheme for banks, will lead to an easing of credit markets and a boost to mortgage loan figures.