ShareCast - News you can use

ShareCast - News you can use

LONDON (SHARECAST) - The UK housing market improved in April but there are still signs of weakness, according to the latest data, published last night, by the Royal Institute of Chartered Surveyors (RICS). Chartered surveyors are said to have seen signs that a stabilization in property prices may have tempted many sellers back to the market. Thus, 18% more surveyors reported a rise rather than a fall in new instructions, up 4% from March.

RICS data also reveals a better tone to demand, with the net balance of new buyer inquiries moving to 0% and taking the series out of negative territory for the first time in ten months. The institute has explained that the good weather led to increased numbers of viewings; but the lack of mortgage finance is said to be continuing to hinder many, “with only the cash-rich able to really take advantage of the market”. There are signs, apparently, that lenders have reduced their grip on the purse strings, yet not enough to have any real impact.

On the positive side of the ledger however, RICS considers of significance the fact that average sales per surveyor, over the past three months, rose to 15.2, the best level since December.