NW housing market to see ‘post-election boon’

IMPROVED weather helped the North West housing market in April, and surveyors are predicting that vendor activity will see a post-election bounce, it was revealed today.

Surveyors in the North West reported an increase in sales expectations, to 39% in April up from 28% in March, according to the latest RICS UK Housing Market Survey.

They also reported a rise in buyer enquiries to 41% from 35%; an encouraging sign the housing market in the North West is improving.

The price expectations net balance decreased slightly from 12% in March, to 5% in April, however the newly agreed sales net balance increased considerably and 21% more surveyors in the North West saw vendors agree a sale up from just 1% in March.

Surveyors in the region are predicting that they will see a further increase in vendor activity over the next couple of months. 

Ian Perry of Harvest Housing Group and RICS North West spokesperson, said: “For much of 2010, the housing market has been under the shadow of the general election with the gap between supply and demand growing wider as potential house buyers opted to stand on the sidelines awaiting the outcome of the poll.

“However, the start of spring has seen renewed optimism with the good weather improving sentiment and surveyors in the North West expecting an increase in both sales and house prices. The housing market often sees an increase in new instructions in the early part of the year with sales boosted in the spring and this year has been no exception.”