House Sellers Returning
The nunmber of house sellers jumped in March, to a level not seen since March 2007, just before the housing market slump. The RICS report shows that instructions from sellers outstripped enquiries from buyers for the 3rd month in a row, in a change that is likely to see a slowdown in the rise of house prices as the supply of houses increases.The average number of unsold houses on surveyors' books increased by 6% in February to 67 per surbveyor, still far short of the 90 at the peak of the market.
The number of new home loan granted to buyers in February was 12% higher than in January but more significantly, it was up 49% on a year ago.
Annual house price inflation rose to 7.4% in February from 6.2%.
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