Estate agents predict bounce in activity and sales post-election

UNCERTAINTY over the election was not enough to dampen estate agents’ sentiment last month with surveyors expecting a post-election bounce, the Royal Institute for Chartered Surveyors showed yesterday.

A net 17 per cent of estate agents reported rising rather than falling house prices, up from just 9 per cent in March. And the positive sentiment is predicted to last, with a net 25 per cent of estate agents expecting sales to rise and a net 7 per cent forecasting a rise in prices. Encouragingly, the newly agreed sales net balance turned positive for the first time this year – 12 per cent more surveyors saw vendors agree a sale up from -8 per cent in March.

RICS spokesperson, Jeremy Leaf said: “The start of spring has seen renewed optimism with the good weather improving sentiment and surveyors expecting an increase in both sales and house prices. The housing market often sees an increase in new instructions in the early part of the year with sales boosted in the spring and this year has been no exception.”

The average number of completed sales rose for the first time in three months while the average stock of property on surveyors’ books decreased. This raised the sales to stock ratio for the first time this year.