property sales in england set to increase
News Posted On: 12 November 2008
Buyers looking to purchase a property in England may be interested to learn that the Royal Institution of Chartered Surveyors' (Rics') latest housing market survey revealed many of its members are optimistic about sales in the next quarter.
The 1.5 per cent cut in interest rates by the Bank of England this month may have influenced the opinions of surveyors, who believe that more people will purchase property in the country.
Almost 50 per cent of surveyors in the south-west said that they think there will be an upturn in sales in the next three months, while 37 per cent of those in London echoed their views.
Ian Perry, a spokesman for Rics, said: "Sales should increase in the coming months as more and more sellers understand that greater realism is the only way to make that long desired move."
The Rics survey showed that home sales fell to their lowest level in thirty years last month, but the decline in the interest rate and the pressure from the government for banks to pass on the savings could mean that now is a good time to acquire a home in the UK.
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