Estate agents “universally optimistic” on sales

The latest survey from the Royal Institution of Chartered Surveyors (Rics) describes the mindset of its members as “universally optimistic” over sales.

New buyer inquiries across England and Wales increased for the sixth consecutive month in April; around 41% more surveyors reported a rise rather than a fall, pushing the ratio up from 32% more reporting a rise in March.

The trend proved strongest in London, East Anglia and north west England.

Newly agreed sales also rose with estate agents’ expectations of sales in the coming months registering positive in all regions of England and Wales.

However, estate agency branches only sold an average 10.6 homes during the three months to the end of April, down 41% on the same period a year earlier.

In addition, the majority of Rics members expect house prices to keep falling rather than rising, although further declines could mean that the market will stabilise in the coming months.

The body’s spokesman, Jeremy Leaf, comments: “Transactions remain at very low levels, and we are unlikely to see significant improvements while money remains in short supply and the employment picture is uncertain.”

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