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Surveyor sentiment turns 'increasingly positive'

Surveyor sentiment turns 'increasingly positive'
Christina Hoghton
Written By:
Christina Hoghton
Posted:
08/02/2024
Updated:
08/02/2024

All the indicators - supply, demand and sales - were positive in January, boosting surveyor confidence.

January saw buyer demand and agreed sales move in the right direction, as well as more new properties hit the market, according to the Royal Institution of Chartered Surveyors (RICS).

As well as the improvement across market indicators in January, sentiment on the outlook for sales volumes over the coming three and 12 months has turned increasingly positive.

RICS said this was supported by the expectation that interest rates will ‘ease back’ as the year progresses.

House prices still falling

RICS data shows that house prices are still falling – although falls are decelerating. Surveyors expected a mild increase in prices over the next 12 months.

Sarah Coles, head of personal finance at Hargreaves Lansdown, said: “This is the first glimpse of buyer enthusiasm we’ve seen in this report for ages, and it’s enormously welcome.

“Miserable levels of demand have been a permanent feature for the best part of two years, so this is a real departure. More positive sentiment has helped to boost the number of agreed sales, which is music to the ears of those who have been struggling to shift their home.”