RICS’ Housing Market Survey revealed that 17% more surveyors reported a rise in house prices during April, compared to just 9% in March. Many surveyors are also predicting a post-election bounce, with sales expectations jumping from 6% to 25%, the highest reading since October last year.
The NAEA survey also showed improving figures, with the average estate agent listing 62 registered sellers in April, compared to 60 in March, which had been the highest number in six months. The number of registered house hunters was boosted slightly from 274 in March to 277 in April.
RICS’ report showed the average number of completed sales rising for the first time in three months to 17.4% per surveyor. The sales to stock ratio, a key indicator of future house price inflation, also increased for the first time this year as the number of properties on surveyors’ books fell.
The 245 RICS surveyors polled reported property prices rising in every region except Wales and Yorkshire and Humberside, while price growth in Northern Ireland continued to be negative, though at a lesser rate than in March.
Jeremy Leaf, spokesman for RICS, said: “The housing market often sees an increase in new instructions in the early part of the year with sales boosted in the spring and this year has been no exception.”
Gary Smith, president of the NAEA, said: “The trends reported by our members point to sunny prospects for the summer housing market.”
Andy Pratt, chief operating officer of Alexander Hall, commented: “There are a lot of separate indicators creating a more positive picture. The stock level has definitely improved in the majority of areas, but there’s still a lot of competition for good properties, which is the main reason why house prices are increasing.
“All these signs of general confidence mean that more people will be encouraged to put their property on the market.”
