The housing market has “risen sharply” since the general election, according to the Royal Institute of Chartered Surveyors (RICS).
RICS reported that the housing market has seen “a lift”, as house sales increased for the first time in several months.
In December, 17% more survey respondents saw a rise rather than fall in enquiries from new buyers, up from -5% in November. Regionally, the majority of areas saw interest from new buyers increase, with respondents in Wales and the North East in particular reporting solid growth.
Enquiries also rose in London and the South East, marking a noticeable turnaround from the negative results in November. Meanwhile, RICS also revealed sales slowed in Scotland and Northern Ireland.
Alongside a rise in enquiries from buyers, the number of agreed sales increased by 9% up- for the first time since May 2019.
Simon Rubinsohn, RICS chief economist said sales expectations for the next three months are also “positive for the third month running,” with 31% of respondents anticipating transactions “will rise.”
He said: “The signals from the latest RICS survey provides further evidence that the housing market is seeing some benefit from the greater clarity provided by the decisive election outcome.
“Whether the improvement in sentiment can be sustained remains to be seen given that there is so much work to be done over the course of this year in determining the nature of the eventual Brexit deal.”
He added: “However, the sales expectations indicators clearly point to the prospect of more upbeat trend in transactions emerging with potential purchasers being more comfortable in following through on initial enquiries.”