A RICS survey showed the first series of rises since spring 2010, with newly agreed sales also up 14% in November giving the average surveyor 15.4 sales each over the quarter to November.
Economic uncertainty was the root cause given by 89% of those polled for the relatively low figures, with tight lending conditions proffered by 70%. The fear that house prices would fall was cited by 42%.
On balance more surveyors continue to report house price falls than rises and in terms of prices, many expect 2012 to look very similar to 2011.
RICS housing spokesperson, Alan Collett, welcomed the government supported mortgage indemnity scheme saying it would assist the market. But he added: “Its focus on the new build sector will inevitably mean that it only offers support for a relatively small share of the market.”
He continued: “It is encouraging that buyer interest has edged upwards in the face of the endless diet of negative news from Europe and the turmoil in financial markets. However, a meaningful recovery still seems some way off.”
