Better news on property prices

Jun 9 2009 by Sue Scott, Evening Gazette

A FURTHER increase in sales coupled with a rise in new buyer enquiries has begun to provide some support for property prices in the North East, a new report said today.

The Royal Institution of Chartered Surveyors UK Housing Market Survey said the region's chartered surveyors are reporting a dramatic increase in new buyer enquiries with 46% reporting a rise rather than a fall. Sales have also edged up with transaction levels at an average of 13 per agency (over the last three months), an increase from 12 in April and higher than the national average of 11.8.

Ian Davison of Stockton-based Ultimate Homes and Finance, said: “We've seen a surge of enquiries within the last month - up 60% - including people wanting to sell their property and looking to view houses to buy. There are still mixed messages about the housing market but this is a very positive sign as confidence is starting to be restored.”