House sales increase across Britain, RICS reveals

10th Apr 2014 09:51

House sales across Britain climbed to a six-year high in the first quarter of 2014, with growth spreading 'right across the country', according to the Royal Institution of Chartered Surveyors (RICS).The data was based on the average number of houses sold per chartered surveyor, which rose to 22.7 homes, a level not seen since February 2008. RICS said the increase resulted from higher numbers of buyers looked to test the housing market right across the country. "This latest increase in transactions comes at a time when the market is showing greater signs of life right across the country," the institution said. "Last month, all parts of the UK saw buyer enquiries increase, with the exception of Wales where new interest was static after strong growth in previous months. Moreover, newly agreed sales rose most notably away from London and the South East for the second consecutive month." However, RICS did say that despite these "encouraging signs of life", the market was still feeling the effects of the lack of homes coming onto the market.Notably, new instructions from vendors continued to decline in March as the predicted 'spring bounce' failed to materialise, a situation that was reflected in most parts of the UK. It was also pointed out that house prices were rising alongside the activity increase, with 57% of surveyors across the UK saw prices rise rather than fall. "Looking ahead, with no indication that the imbalance between buyer demand and homes on the market is going to change any time soon, surveyors expected prices to continue to increase as we enter the summer months," RICS added. NR