Home-buyer interest is increasing

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INTEREST from would-be home-buyers in the North East saw a boost during July.

There were 39 per cent more chartered surveyors in the region reporting rises rather than falls in demand last month, according to the latest Royal Institution of Chartered Surveyors (Rics) UK housing market survey.

However, the amount of new properties coming on to the North East housing market failed to increase during July, as fewer vendors looked to test the summer market.

A net balance of five per cent more chartered surveyors reported falling supply.

Rics North East spokesman Richard Sayer said: “A tough market continues with fee cutting and over-valuing returning to the market place.

“Instructions and sales are maintaining activity levels, but fall-throughs are, if anything, increasing this year with mortgage approvals taking longer and banks being even more cautious.”