Property in Wales No.1

LONDON November 4th 2009-The UK housing market has a surprising new winner for new buyers attracted to housing in one region. Wales has come out top for enquiries from potential buyers beating London and the South East . The surprise finding comes from The Royal Institution of Chartered Surveyors'(Rics)

Further good news for Welsh property market came from a RICS poll which also found that 11% more Welsh chartered surveyors said they expected an increase in house prices over the same period – the highest figure for price expectations since April 2007.

Tony Filice of Rics Wales said this “confirmed” the recovery of the housing market in Wales.

According to the Rics’ UK Housing Market survey, the number of surveyors in Wales reporting an increase in inquiries from new buyers rose 12% between August and September.

The good news was balanced with comments from Welsh estate agents commenting on the Welsh property market.

John Nicholas of JJ Morris in Haverfordwest, Pembrokeshire, said: “Buyers lack confidence which is reflected in static or in some cases reduced ‘sale agreeds’.”

Paul Lucas of RK Lucas & Son, also in Haverfordwest, reported that confidence was slowly returning to the market but added: “Finance facilities are still difficult to obtain.”

While in Lampeter, Ceredigion, Andrew Morgan of Morgan & Davies, warned: “Any significant upturn we feel will be delayed to at least next spring as there is still far too much ‘old stock’ to move, which continues to contribute to a stagnation period in the market.”

About the author  ⁄ Mike

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