The number of properties being put up for sale is continuing to rise according to new research which shows that activity amongst sellers reached its highest level for three years last month.
Data from the Royal Institution of Chartered Surveyors (RICS) latest housing market survey shows new house sale instructions outpaced new buyer enquiries for the third month in a row.
Seller activity rose to the highest level since May 2007, with a net balance of 21 per cent of surveyors reporting a rise in new instructions in March, compared to a balance of 16 per cent in February. The net balance of new buyer enquiries fell from 7 per cent to zero.
The RICS survey also found that some 9 per cent more chartered surveyors saw a rise rather than a fall in house prices in March, down from 18 per cent the previous month. Prices are, however, expected to stabilise in the next few months.
Furthermore, the number of completed property sales in March fell by 2.8 per cent from the previous month to 17.1 per surveyor, while the average number of homes on surveyors’ books rose by 6 per cent to 67 properties per surveyor .
RICS spokesman Ian Parry said: "With the general election approaching and uncertainty growing over the political direction of the country, many vendors who were previously inclined to sit on the sidelines now appear eager to put their properties on the market."
"For the time being, many of the key housing market indicators are still positive or stable, but with stocks increasing and sales decreasing we may see some modest price falls in some regions, although London, the South East and Scotland are continuing to perform well."
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Homeowners Rushing To Put Properties Up For Sale Thu, 15 Apr 2010
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