Buyer interest 'yet to translate into sales'

News Category: Marketing

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Property sales are yet to pick up despite evidence of growing buyer interest in the UK property market after interest rate cuts and house price falls, research has found.

According to statistics published by the Royal Institution of Chartered Surveyors, the average member arranged 9.9 sales in the last three months, compared to ten in the previous three-month period.

However, 16 per cent of surveyors reported a rise in buyer interest during January, Rics noted.

Spokesperson for the firm Jeremy Leaf commented: "The latest survey provides further evidence of the eagerness of buyers to try and pick up bargains."

Recent research into the private rented sector found that landlords have already taken advantage of lower-priced homes.

A study by Paragon Mortgages last month found that the average number of properties per landlord's portfolio increased by 12.1 to 13.2 during the third quarter of 2008 - which could mean more letting agents are being sought for property management services.

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