The Royal Institution of Chartered Surveyors have published a survey which indicates that property sales may increase over the next few months.  The report suggests that lower house prices have prompted renewed interest in property.  Although further signs of recovery are very welcome, the survey confirms that first time buyers still remain largely locked out of the market place.

RICS cautions that despite this recent rise in enquiries, the market is set to remain subdued.  Simon Rubinsohn, RICS chief economist warns, “By no means could this relatively small pick-up in transactions be seen as representing a move back to a more orderly housing market.”

Its regular monthly housing market surveys show rises in buyer enquiries over the last three months.  71% of surveyors suggest that this renewed interest is down to lower house prices.  Three quarters also confirmed that most enquiries where from existing home owners, first time buyers still showing little interest, probably due to the large deposits being sought by lenders.

Mr Rubinsohn cautions, ” a sharply deteriorating employment picture may eat away at this improvement in sentiment, pushing potential buyers back to the sidelines.”