Increase in new buyer enquires

20-Sep-2005

The number of new buyer enquiries has continued to rise since June, according to the monthly survey released by the Royal Institution of Chartered Surveyors (RICS).

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Aspiring homeowners have returned to the property market following the recent cut in interest rates, boosted by a variety of competitive deals and low rates.

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This rise in interest for properties for first time buyers marks the fastest pace in over a year and has seen a corresponding increase in the number of completed property sales.

A spokesperson for RICS believes this signals a "return of confidence to the market" and that is could lead to a "sustained revival".

Consumer confidence in the market was found to be the strongest in London, with positive outlooks also expected for the north-west, Yorkshire and Wales.

Analysts attribute the rise in new buyers to an improved selection of first time buyer mortgages and better mortgage advice, which have helped to encourage aspiring homeowners to get on the first rung of the property ladder.

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