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Demand for houses ‘on the up’ 29/05/13

Demand for houses ‘on the up’ 29/05/13

The Funding for Lending Scheme and Help to Buy are increasing demand for property.

Demand for property in the UK is continuing to climb, new research has found.

Conducted by the Royal Institute of Chartered Surveyors (Rics), the study revealed such demand has reached a three-year high, thanks partly to the impact government schemes have had on the market.

It was shown that 25 per cent more surveyors have reported more interest in property, which represents the seventh positive result in eight months and indicates house prices could be about to climb.

According to the findings, inquiries from new buyers are continuing in their upwards trajectory – and government initiatives such as the Funding for Lending Scheme and Help to Buy have been identified as possible reasons for this.

Peter Bolton King, global residential director at Rics, said: “Help to Buy in combination with the Funding for Lending scheme appears to be giving the market a shot in the arm.”

He added that although sales are improving from historically low levels, they are expected to carry on climbing over the months ahead.

Onwards & Upwards!

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Sukhi Wahiwala

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