RICS October 2011 UK Housing Market Survey

The latest RICS UK Housing Market survey has shown a rise in activity during October. The number of sales increased and demand edged up, according to the survey, which is the longest running monthly house price survey in the UK. 

Although figures are still at historically low levels, the rise represents the best reading since April 2010. Some survey contributors attribute the increase to growing realism amongst sellers, who appear to be more willing to accept offers to secure a sale.

The purchase process is reported to be much slower as a result of Banks taking a long time to agree lending terms. This situation is not expected to improve in the near future as chaos continues in the eurozone.

In the North West, demand for property is reported to be the highest in the UK, and house prices are reported as being stable.

Alex Dixon, director and branch manager at Sutton Kersh Allerton & South Liverpool comments "There is high demand for reasonably priced, good quality housing across Liverpool. It is encouraging to have seen activity levels edge up over the last 12months. The best advice we can give to vendors is listen to the professional advice provided by agents, and be realistic with asking prices. There are still some agents over pricing property to win instructions. Whilst this may be flattering for vendors, it is not the way to go about achieving a sale in today's market."