Boost for housing market

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HOUSE buyer demand in the North East rose last month, according to a new survey.

The Royal Institution of Chartered Surveyors (RICS) believes purchasers across the region are looking to test the pre-Christmas market.

Its latest study showed that last month, interest from would-be buyers rose at its quickest rate since September 2009.

The region’s chartered surveyors hope the upturn in interest translates into more sales.

RICS North East housing spokesman Richard Sayer said: “Sales and listings are hard won in a competitive market.

“However, inflation employment and mortgage opportunities are all improving which hopefully will lead to improved confidence in the housing market.”

Chartered surveyor Ian Perry added: “Overall activity is still very low in most parts of the country and what the market desperately needs is for this to translate into actual sales.

“Initiatives like the NewBuy scheme are all well and good, but they need time to bed in and take effect, and access to affordable mortgage finance is still very difficult for many first-time buyers.”