The number of new enquiries from Britain’s househunters increased in March for the fifth consecutive month and at the fastest rate since September 2003, according to new figures.
Latest statistics from the Royal Institute of Chartered Surveyors (Rics) revealed that 31 per cent more chartered surveyors reported a rise in interest from prospective new buyers – up from 21 per cent in February.
The Rics data indicated that March interest was strongest in London, with 63 per cent more surveyors recording a rise than a fall in new buyer enquiries, compared to 46 per cent the previous month.
Rics spokesman Ian Perry said: "Buyer interest is starting to gain momentum but will remain frustrated while mortgage finance is scarce. Surveyors are optimistic that transaction levels will increase, especially for those with the finance to purchase family homes ."
"However, accessibility for first-time buyers is likely to remain difficult while loan-to-value ratios generally remain at current levels."
He added: "The market is still in a fragile state, but with demand continuing to pick up there may be more signs of stabilisation in the coming months."
According to the Council of Mortgage Lenders (CML), first-time buyers needed a deposit of 25 per cent in February, although there was a 4 per cent rise in mortgage approvals.
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