Move Evidence That Interest In Property Is 'Up Again'

Rising interest from potential buyers coupled with falling numbers of sellers is stabilising UK house prices, according to surveyors. New buyer inquiries increased for the seventh month in a row in May - at the fastest rate since 1999, said the Royal Institution of Chartered Surveyors. But there were fewer sellers, continuing a trend of the last two years, the survey found. Two other surveys recently reported a rise in house prices in May.

The Rics survey, which has been running since 1978, takes a snapshot of the degree of confidence in the market from surveyors and estate agents across the UK. They reported that average sales were at their highest level since August last year.

However, at 11.8 properties sold per surveyor in the last three months, this remained 31% down on the same period a year earlier.

Rics members again suggested a further increase in potential new buyers window shopping for property, most notably in Scotland, London and the south-east of England.

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