This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/7893193.stm
The article has changed 4 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| Home sales may rise say surveyors | Home sales may rise say surveyors |
| (20 minutes later) | |
| Property sales may pick up in the next few months, according to a survey from the Royal Institution of Chartered Surveyors (Rics). | Property sales may pick up in the next few months, according to a survey from the Royal Institution of Chartered Surveyors (Rics). |
| It says lower house prices have prompted renewed interest from potential buyers, especially those who already own a house or flat. | It says lower house prices have prompted renewed interest from potential buyers, especially those who already own a house or flat. |
| However first time-buyers are still largely locked out of the market. | However first time-buyers are still largely locked out of the market. |
| Despite this recent rise in new buyer enquiries, Rics warns that the market will remain relatively subdued. | Despite this recent rise in new buyer enquiries, Rics warns that the market will remain relatively subdued. |
| "Our suspicion is that this improvement in activity levels is likely to be sustained over the coming months; mortgage approvals could climb above 35,000 [per month] on the back of the higher level of buyer interest," said Simon Rubinsohn, Rics chief economist. | "Our suspicion is that this improvement in activity levels is likely to be sustained over the coming months; mortgage approvals could climb above 35,000 [per month] on the back of the higher level of buyer interest," said Simon Rubinsohn, Rics chief economist. |
| "However, this would still be well down on the high for the cycle as well as being significantly below the long run average," he warned. | "However, this would still be well down on the high for the cycle as well as being significantly below the long run average," he warned. |
| "By no means could this relatively small pick-up in transactions be seen as representing a move back to a more orderly housing market." | "By no means could this relatively small pick-up in transactions be seen as representing a move back to a more orderly housing market." |
| Lower prices | Lower prices |
| Rics has seen new buyer enquiries rise in the last three of its regular monthly housing market surveys. | Rics has seen new buyer enquiries rise in the last three of its regular monthly housing market surveys. |
| It regards these findings as a good indicator of near term tends among house buyers, pointing to a pick up in sales, which slumped by more than half last year. | It regards these findings as a good indicator of near term tends among house buyers, pointing to a pick up in sales, which slumped by more than half last year. |
| And this prompted it to ask its members what type of buyer has been sniffing around, and what sort of home they are interested in. | And this prompted it to ask its members what type of buyer has been sniffing around, and what sort of home they are interested in. |
| A sharply deteriorating employment picture may eat away at this improvement Simon Rubinsohn, Rics | A sharply deteriorating employment picture may eat away at this improvement Simon Rubinsohn, Rics |
| It found that 71% of surveyors thought that low prices were the main factor attracting interest. | It found that 71% of surveyors thought that low prices were the main factor attracting interest. |
| Prices have dropped by about 20% since their peak in the summer of 2007, according to surveys by the Halifax and the Nationwide. | Prices have dropped by about 20% since their peak in the summer of 2007, according to surveys by the Halifax and the Nationwide. |
| About three quarters of surveyors also thought that existing owner occupiers were showing some interest, while just a quarter reported that first-time buyers were looking around. | About three quarters of surveyors also thought that existing owner occupiers were showing some interest, while just a quarter reported that first-time buyers were looking around. |
| And existing houses, rather than flats or newly but properties, were the overwhelming focus of the interest being shown by these potential buyers. | And existing houses, rather than flats or newly but properties, were the overwhelming focus of the interest being shown by these potential buyers. |
| "Interest from owner occupiers is likely to persist over the comings months as those with large deposits look to capitalise on the drop in house prices," said Mr Rubinsohn, | "Interest from owner occupiers is likely to persist over the comings months as those with large deposits look to capitalise on the drop in house prices," said Mr Rubinsohn, |
| "However, a sharply deteriorating employment picture may eat away at this improvement in sentiment pushing potential buyers back to the sidelines." | "However, a sharply deteriorating employment picture may eat away at this improvement in sentiment pushing potential buyers back to the sidelines." |