Property investment prices continue to rise

Wednesday, December 16, 2009

Property investment may be difficult despite an increase in property on the market.

By Ashley Brunskill

A modest increase in the number of properties on the market is not as good news as it could have been for those considering property investment as prices continue to rise, a report has suggested.

A survey carried out by the Royal Institution of Chartered Surveyors (RICS) found that 28 per cent more surveyors said that enquiries from potential purchasers were rising rather than falling.

It is the sixth month in succession that an increased number of chartered surveyors have reported that the number of new instructions is increasing rather than falling.

Simon Rubinsohn, chief economist at RICS, said: "Coming out of the recession may give a further lift in demand. On the other hand I think it may increase supply a bit more."

He added that pricing has picked up a bit in recent times and that market deals are going through more quickly than in the recent past.

RICS offers its members advice on a wide range of land, property, construction and related environmental issues.

Source: ask-re The Property People LLP