Rics reports rising confidence in market |
14 2008 |
| The mood among property professionals appears to be gaining in confidence regarding the short-term future of the housing market, it has been reported. An October study by the Royal Institution of Chartered Surveyors (Rics) has found that 20 per cent more of the organisation's members are confident that the market will pick up soon than are pessimistic about the future of the market. Compared to the same study in September, the recent results showed a rise of four per cent in the number of surveyors displaying confidence in the market. "Last week's interest rate cut should certainly help to support the market now that lenders have agreed to pass on the reduction to borrowers," said Rics spokesperson Ian Perry. Other market watchers have also claimed that the housing market is on its way up or at least that the worst of the falls in value are over. However, until the speculations are proven in long-term figures it is unlikely that the number of renters will slow down. Britain's second-largest letting agent Your Move last month confirmed that it has experienced a 50 per cent rise in demand for rental property.  |
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