New buyer enquiries hit 10-year high

The number of new buyer enquiries reported in the housing market has risen to the highest figure in a decade, according to the RICS.

The surveyors' body's latest monthly housing market survey shows that sales in April increased, although they remain at “historically” low levels, but also that enquiries are at a 10-year high.

Overall 41% more chartered surveyors reported a rise rather than a fall in new buyer enquiries, up from 32% in March. Buyer interest in London is at the second-highest level since records began, with seven in 10 chartered surveyors reporting a rise rather than a fall in interest.

This is failing to translate into a commensurate spike in sales figures, although sales are on the rise. Surveyors sold an average of 10.6 properties in the three months to April, up from 9.7.

A spokesperson for the RICS said: “There are tentative signs that the market is starting to pick up but transactions remain at very low levels.”