Partner Article

NE house market slow but confident

The North East housing market is lagging behind the rest of the UK, despite confidence for the prospect of future sales.

The RICS (Royal Institution of Chartered Surveyors) house price net balance turned positive for the first time in two years on a national level, while the North East is yet to follow.

However, the region’s chartered surveyors have reported a significant rise from -21% to -3%.

The average number of sales per surveyor in the North East has risen from 1 to 14, and the number of surveyors reporting a rise in new enquiries has increased to 61%.

RICS North East housing market spokesperson and director at Rook Matthews Sayer, Richard Sayer, commented: “There is a growing rate of positive statistics and encouraging housing information which the public is now accepting. In the North East, prices have not fallen in 2009 but equally we see no pressure for prices to increase.

“The North East has seen a sharp upturn in property sales over the last four months with agents reporting an increased number of applicants and viewings across the region. This is being reflected in the amount of property listings we are seeing.

“Over the last three months, agents across the region have reported a 50 percent increase in house sales in comparison to the equivalent time last year and they are anticipating an improved trading forecast in autumn with homes selling closer to their asking price.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .