Property professionals have room for optimism

ROPERTY professionals’ expectations for future sales are becoming more upbeat, although the housing market remains subdued, according to surveyors.

- VICKY SHAW Special Correspondent

Looking ahead, a net balance of 25% of professionals expect the number of house sales to increase over the next year, marking the strongest reading since February, the Royal Institution of Chartered Surveyors (Rics) said.

But its May survey also found that 26% of professionals reported seeing new buyer inquiries falling rather than rising, marking the fifth month in a row of decreases.

‘The figure is slightly less downbeat than March and April, Rics said.

‘A net balance of 28% of professionals reported seeing the number of sales agreed falling. Sales volumes are generally expected to flatten out rather than fall in the three months ahead, the survey indicated.