Demand in UK housing market picks up

Demand from would-be housebuyers in Britain has risen at its fastest rate in almost three years, boosting hopes of a pick-up in sales in the run-up to Christmas and into the New Year, the Royal Institution of Chartered Surveyors said yesterday.

Surveyors reported a “considerable rebound” in interest from would-be buyers during October, with a balance of 18% more surveyors reporting rises in new buyer inquiries than falls, the latest institution housing market study found.

Until last month, interest had remained relatively subdued since Dec 2009, but the institution said much of the UK is now seeing a strong increase in potential buyers looking to test the pre-Christmas market.