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UK home sales highest for six years, says Rics | UK home sales highest for six years, says Rics |
(about 13 hours later) | |
The number of UK homes sold per surveyor has more than doubled since the depth of the housing market downturn, a survey suggests. | The number of UK homes sold per surveyor has more than doubled since the depth of the housing market downturn, a survey suggests. |
Just over 21 sales per estate agency branch were recorded in the final three months of 2013, the Royal Institution of Chartered Surveyors (Rics) said. | Just over 21 sales per estate agency branch were recorded in the final three months of 2013, the Royal Institution of Chartered Surveyors (Rics) said. |
This was the highest number since March 2008, and up from 9.8 in January 2009. | This was the highest number since March 2008, and up from 9.8 in January 2009. |
The survey found surveyors expected prices and sales to keep rising. | The survey found surveyors expected prices and sales to keep rising. |
Supply shortage | Supply shortage |
Rising prices - which have been a feature of recent months - have mainly been the result of more buyers chasing the relatively few homes on the market. | Rising prices - which have been a feature of recent months - have mainly been the result of more buyers chasing the relatively few homes on the market. |
"Unless we see a marked increase in the number of homes coming up for sale we could well be looking at a price rises becoming unsustainable in some areas," said Peter Bolton King, global residential director at Rics. | "Unless we see a marked increase in the number of homes coming up for sale we could well be looking at a price rises becoming unsustainable in some areas," said Peter Bolton King, global residential director at Rics. |
Yet housebuilder Bovis Homes said in a statement on Thursday that the number of new homes being completed was rising, and there had been a big rise in the number of forward sales. | |
The statement came ahead of its full-year results, which it said would show a "significant increase in profit before tax for 2013". | |
Its average sale price was up 14% to £195,100, because it had built more homes in the south of England and more larger properties, it said. | |
Predictions | |
A number of commentators have predicted average price rises of between 4% and 8% in the UK in 2014. | A number of commentators have predicted average price rises of between 4% and 8% in the UK in 2014. |
The latest house price survey from the Office for National Statistics showed that year-on-year property price growth stood at 5.4% in the UK in November. | The latest house price survey from the Office for National Statistics showed that year-on-year property price growth stood at 5.4% in the UK in November. |
Excluding London and the south east of England, the ONS said prices were up by 3.1%. | Excluding London and the south east of England, the ONS said prices were up by 3.1%. |
The Bank of England has recently pulled back from offering cheaper funds for lenders to hand on in mortgages through the Funding for Lending scheme. | The Bank of England has recently pulled back from offering cheaper funds for lenders to hand on in mortgages through the Funding for Lending scheme. |
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