House sales in North West ‘remain healthy’

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Despite the usual January slow-down, house sales across the North West remained healthy last month, with further price increases expected to level off over the coming months, according to the latest RICS (Royal Institution of Chartered Surveyors) Residential Market Survey.

Across the region, the average number of homes sold per agent last month remained at 29 – the same as December – an improvement on the average sold in November and in October.

Some surveyors in the region are also moderately optimistic that house prices will rise over the next three months; with 25 per cent more of respondents predicting price growth.

However, it seems the majority feel that any further price rises will now begin to level off.

The survey revealed that surveyors’ sales expectations over the next coming three months have fallen, albeit slightly, with 15 per cent more North West respondents predicting an increase in house sales over the next three months (compared with 22 per cent in December).

Surveyors across the North West also reported significant falls in buyer enquiries and new instructions last month. In the lettings market 29 per cent more respondents in the North West reported a further rise in tenant demand during the three months to January, and while supply appears to be dipping once again, 29 per cent anticipate rents will rise over the next three months.