House sales on increase – RICS

THE number of housing transactions continues to grow across the Yorkshire and Humber property market, according to the latest RICS housing market survey.

Chartered surveyors in the region reported a further increase in the number of newly agreed sales in January with a net balance of 24% more stating that levels rose.

Despite this, prices continued to drop during the first month of the year, the research found.

More than a third (36%) more respondents in Yorkshire and the Humber stated that prices fell rather than rose last month (from -21%).

Demand from would-be purchasers has dipped in the region since the start of the year, with a net balance of 34% of surveyors suggesting that new buyer enquiries fell during January.

This was also  accompanied by a fall in the number of homes coming up for sale with surveyors suggesting that poor weather may have contributed to the softer figures.

Across the UK, prices remained in positive territory in London and the South East while also moving into positive territory in Wales for the first time since the early part of 2010.

Looking ahead, chartered surveyors in the region believe that prices will continue to dip over the coming three months. Meanwhile, future transaction levels are also expected to edge lower.

Ken Bird, of Renton & Parr, said: “With a strong finish to 2012 and busy January, I believe 2013 could be a fresh start for the housing market with several positive signs that hint at a growing level of confidence.”