Increase in aspiring homeowner interest

15-Nov-2005

Aspiring homeowners are flocking to the housing market, according to new figures released by Rics, with last month displaying the highest increase in new buyer enquires since 2003.

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With the number of potential property buyers expressing interest in new homes rising for the fourth month running, industry experts say current conditions are good for first time buyers.

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House prices fell slightly in October, although at a lower rate than previous months, while completed sales have grown by eight per cent since the beginning of the year and analysts say that buyers are in a "position of power".

"This month has seen further evidence of a pick up in the market with the recovery in would-be buyer interest," confirmed Rics spokesperson Jeremy Leaf.

"Contributing factors include diminishing uncertainties over the future of interest rates and rising employment which is lifting the demand for homes."

Future predictions for the market look positive and aspiring homeowners are urged to consider starting their hunt for the ideal home now, as the surge in buyer enquires may lead to an increase in house prices.

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