Quinton Scott

New instructions rebound more strongly than buyer enquiries

• The net price balance remains comfortably in positive territory but drops to 17%
• Both new buyer enquiries and new instructions rebound from the depressed January levels but the latter does so more strongly
• Surveyors remain upbeat about both price and sales expectations albeit less so than last month
  

The February 2010 RICS Housing Market Survey showed surveyors to still be generally positive on price movements in residential property but a little less so than in January. The seasonally adjusted net balance of respondents reporting increasing rather than declining prices fell to 17% in February from 31%.

To view the RICS Housing Market Report for February please click on the link below:

http://www.rics.org/site/download_feed.aspx?fileID=6082&fileExtension=PDF

John King, Chairman of Quinton Scott comments:

'While activity levels have increased, results show a similar number of sales from last month, indicating that both vendors and potential purchasers are concerned about something!.  If March goes the same way as the previous two months then we are in to a 'slow down' in the market'.