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Sales set to rise

By South Wales Evening Post  |  Posted: January 17, 2013

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HOUSE sales across Wales look set to continue to increase as chartered surveyors' expectations for the coming three months remained positive, says the latest RICS housing market survey out today.

Last month, 28 per cent more surveyors in Wales predicted transactions to rise rather than fall over the next quarter.

This positive outlook comes at a time when confidence has been growing that the market in some parts of the country may now be over the very worst.

Last month Welsh surveyors had reported prices continuing to fall, with 29 per cent more confirming that than a rise. However, they are bullish about the immediate future.

In a positive outlook for the first quarter, 20 per cent more respondents have predicted rises over that period.

It is the first positive expectation since April 2010.

With prices forecast by RICS to rise by two per cent during 2013 it seems that the market in some areas of the country may have started to bottom out.

Alongside expectations for transactions to increase, the number of homes coming up for sale also remained positive with demand from would-be buyers also increasing.

During December, a net balance of 36 per cent more surveyors reported an increase in new buyer enquiries.

RICS Wales residential spokesman Tony Filice said: "An increased number of valuations indicates an interest in selling in the new year.

The strong levels of viewings throughout the holiday period also indicates, potentially, an active market.

"Vendors are now being more willing to consider offers and buyers being more confident in coming forward with such offers, promises more real activity in early 2013.

"Some building societies and banks are now offering 95 per cent mortgages, something which had been missing in the market for some considerable time, and this will now encourage many first-time buyers to get on to the property ladder."

Colleague David Jones said: "2012 saw an improvement on 2011 and the signs are this will carry over in 2013. Sellers seem to have got used to the new normal and are being realistic on pricing and offers.

''Buyers are persistent in trying to get finance so deals are being done."

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