A brighter outlook for housing market, says Zoopla.co.uk

Date:Thursday 12th November 2009
Author: Susanna Kavka

Increasing numbers of homeowners putting their properties on to the market is a good sign for recovery in the sector, according to Zoopla.co.uk.

Nicholas Leeming, commercial director with the property advice website, said evidence that more people are looking to sell their homes "is the real cause for cheer and points to a much brighter outlook for the housing market".

Commenting after the Royal Institute of Chartered Surveyors (Rics) reported a 15 per cent rise in properties for sale in October compared to the previous month, he added that sellers are now looking to take advantage of the rising demand and house price increases.

Mr Leeming continued by noting that satisfying the "colossal, pent-up demands" of the buyers would drive further sales and is crucial for the market to strengthen, as long as the confidence expressed recently prevails.

In its latest figures Rics found that the number of surveyors in October reporting house price rises in the previous three months was up to 34 per cent. It is an increase on September's total of 21 per cent and the highest figure since December 2006.