`Buyers back' in housing market
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.The new year recovery in the housing market continued last month, with nearly three quarters of estate agents reporting higher activity, writes Diane Coyle. Buyers have been encouraged by interest rate cuts and excellent mortgage deals, according to the Royal Institution of Chartered Surveyors.
Its regular survey of members for the three months to February found 62.6 per cent reporting an increase in business of up to 10 per cent, while nearly one in eight said activity had grown by 25-50 per cent. Only 5 per cent reported a decrease compared with three months earlier.
Prices were flat, however. More than four fifths of the estate agents said selling prices were the same as three months ago. The survey commented that recovery was in danger of being held back by sellers who had been encouraged by positive reports and decided to hold out for a better price.
David Baker, an estate agent in Penarth, near Cardiff, said: ``There is definitely more activity but let us not get carried away with the thought that prices will rise. There is a lot of slack to be taken up first.''
Denis Chapman in Scarborough, described the market as "still very patchy with only the realistically-priced properties finding purchasers.''
John Pocock of Pocock and Shaw in Cambridge was more optimistic: ``Houses generally are proving to be much more readily saleable and the situation appears to be better than any time in the past 12 months.''
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments