Property boom? North East housing market is on the up, says new report

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THE housing market in the North East continued to show signs of recovery during last month, according to a report.

There were rising sales expectations and increased demand, says the latest Royal Institution of Charterd Surveyors (Rics) Residential Market Survey.

It said the rise in sales expectations has mainly been fuelled by increasing numbers of prospective buyers returning to the market.

Showing that market confidence is gradually being restored, demand from would-be buyers has improved in the past four months.

Rics North East spokesman Richard Sayer said: “Activity has been consistently up for 18 months.

“June proved to be the best month for instructions, sales and inquiries for a very long time.

“This ongoing improvement echoes that of the commercial property markets which are at their most upbeat for two years.

“Now is clearly a good time to consider your property needs.”