Surveyors announced good news for the welsh housing industry as interest in buying and selling properties increased since last month; however early doubts were cast on the “unlikely” sustainability of this recovery by Cathy McLean of the Royal Institution of Chartered surveyors (Rics).
Selling activity swelled to 52 percent and average house prices rose 14 percent from the previous month; newly agreed sales also made a significant increase of 10 percent from 18 percent last month to 28 percent in the current term. Further adding to the positive signs of heightening activity came with an increase in new survey inquiries reaching 69 percent.
However many surveyors share a similar opinion to Mclean with Cardiff-based surveyor Kelvin Francis remarking that “although there had been an increase in the number of viewings, there has been no consistent theme.” Others put the upturn in the housing market down to normal seasonal fluctuations with summer seeing the peak in house transactions.
A modest quantity of available houses for sale is putting the lid on any vast rises in housing business, with some areas showing more signs of recovery than others; overall any attempts of a sustainable high rate of activity is likely to be dampened with the country’s economic recession.
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