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Prices stable as house sales begin to pick say surveyor

January sees fourth consecutive month of growth in sales

The Royal Institute of Chartered Surveyors (RICS) has announced that property sales in the UK have continued to rise in January. It’s survey of 250 estate agents from across the country found that sales were recovering and that prices had remained roughly stable. This follows on from the encouraging news in December from HMRC which revealed that sales rose by 5% last year to 932,000. Commentators are putting the tentative improvement down to the Bank of England’s Funding for Lending scheme which has allowed banks to borrow money from it at cheap rates on the condition that it is lent to consumers and businesses.

Peter Bolton King of RICS said: “It is interesting to see that the amount of completed transactions are on the rise, as confidence returns to the marketplace. While it is still very early days to talk about a comprehensive market recovery, activity levels are still encouraging and there is some optimism out there that things could continue to improve.”

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