The amount of homes sold in the UK over the past three months reached its highest level since January 2010 as buyers across the country began to return to the market, says the latest Royal Institute of Chartered Surveyors residential market survey.

Chartered surveyors in the UK sold on average 17.9 properties during the three months to May. While low compared to the market peak of six years ago, it still represents the highest reading since January 2010. Furthermore, sales are expected to continue their rise over the next three months with a net balance of 35% more respondents predicting transaction levels will grow (from +26%).


A key driver behind this jump in activity is the recent upturn in buyers testing the market. Interest from would-be buyers has now risen for four consecutive months and, during May, 30% more chartered surveyors reported rises rather than falls in new buyer enquiries. This represents the highest reading since October 2009 and is a sign that market confidence is gradually being restored.

(CD/MH)