PROPERTY Housing shortage set to ease

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House-hunters frustrated by limited choice were given some good news yesterday - property shortages affecting many areas appear to be easing at last.

The number of properties for sale is now showing "a much-needed upward turn", said the Royal Institution of Chartered Surveyors (Rics) in its latest housing market survey. There was evidence of stock levels beginning to rise in areas where the shortages have been most extreme, such as London, it stated. A spokesman added: "This is a decisive moment for the housing market. Whether this is the beginning of a trend remains to be confirmed, but we expect to see more sellers taking the plunge once the [2 July] Budget is behind us."