I was interested to read a recent report from the RICS advising that in the month of December, 24% more surveyors predicted transactions to rise rather than fall over the next quarter. The report also advised that prices held steady during December, which is the first time since June 2010 that the national price balance has not been negative. The RICS also advised that the number of house prices coming up for sale remained stable and they predicted a 2% price increase during 2013.
I feel that this is another positive step and points towards an increasing confidence in the property market. Another step in the right direction and I am very interested to compare Quarter 1 2013 to Quarter 1 2012 which I think will be the next real indicator of market activity.
Lindsay Darroch Partner & Head of Property