Inquiries from new buyers fall again.

Estate agents and surveyors are yet to see the green shoots of recovery in the property market that

some of the UK’s house builders have highlighted in recent weeks.

According to the latest residential market survey by the Royal Institution of Chartered Surveyors, the vast majority of estate agents saw inquiries from new potential buyers fall again last month. It marked the ninth month that agents had reported a fall in buyer interest, with the trend seen in all parts of the UK.

That said, the longer-term outlook for transaction volumes is less gloomy than some had suspected at the end of last year. A net balance of 20 per cent of those surveyed now think that sales will be lower still in 12 months, but that compares with a reading of 42 per cent in December. Similarly, the proportion of estate agents who expect house prices to be lower in a year also retreated slightly, down to a net balance of 40 per cent versus 57 per cent in the previous survey.

Fewer people are putting their houses up for sale. A net balance of 14 per cent of respondents reported a decline in new instructions last month.

In the rental market, demand from tenants continues to rise, while the number of homes listed by landlords fell once again.

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