Rics confident about property market

News Category: Industry News

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The Royal Institution of Chartered Surveyors (Rics) is confident the housing industry will pick up in the coming months.

According to the regulatory group, its recent research predicts that a number of enquiries about the market have been made, which may interest landlords considering adding to their property portfolios.

Rics was commenting in a statement following the most recent mortgage figures from the British Bankers' Association (BBA).

The BBA indicated this week that the number of mortgage approvals for house purchase fell in March - the first time in four months that there has not been an increase.

"Crucially, the Rics new-buyer enquiries series rose further last month and our suspicion is that this will translate into higher transactions levels over the coming months notwithstanding the drop in mortgage approvals in March," Rics stated.

Rics recently joined the BBA and other property bodies in welcoming the government's new Homeowner Mortgage Support Scheme, which will offer mortgage holders help with their home loans if they find themselves in financial difficulty.

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