Property market ‘bouncing back’

The property market is showing clear signs of revival as more sellers make their homes available, it has been noted.

Commercial director of property website Nicholas Leeming remarked that the extent of the market’s improvement in recent months has been restricted by a lack of supply, but observed that this is now changing.

Remarking on this, he stated: “Evidence that more homeowners are putting their properties up for sale is the real cause for cheer and points to a much brighter outlook for the housing market.”

He added that as prices rise and confidence grows, this is leading to more sellers putting their homes on the market, which in turn should tap into the “colossal pent-up demand” from buyers.

Figures from the Royal Institution of Chartered Surveyors for October found that 34 per cent more members saw a rise in prices than recorded a fall.

This was the largest positive balance since December 2006.

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