Home sales at three year peak

House prices predicted to rise nearly 30% over next five years

The number of homes sold in the UK over the last three months reached its highest level since January 2010, according to the latest Royal Institution for Charterd Surveyors (RICS) figures.

Chartered surveyors in the UK sold on average 17.9 properties between March and May and predict further sales rises over the coming months.

Peter Bolton King, RICS Global Residential Director, said: "May was an interesting month for the housing market. More people decided to get out there and view property and more transactions went through than in quite some time. Most encouragingly of all, though, is that stability is not confined purely to London and the South East, as has been the case, but is now starting to extend to areas right across the country. There is still a very long way to go until we see a full scale recovery but green shoots are beginning to sprout."

Brian Murphy, head of lending at Mortgage Advice Bureau (MAB), said: "The fact that the RICS data shows home sales have hit their highest point since January 2010 will only add to the head of steam building in the property market.  Back then, consumer choice was limited to around 4,500 mortgage products on average whereas in May there were almost twice as many available - over 9,600 - through mortgage brokers or direct from lenders.

“We are starting to see queues forming, as the burst of activity draws people's attention to a window of opportunity when it comes to buying and selling property. With so many good deals out there buyers are keen to act before prices climb any higher, while homeowners looking to sell can find themselves spoilt for choice when it comes to attracting an offer.”

Meanwhile, the latest price forecast from Chesterton Humberts is that over the next six months national house prices will rise by 5.5 per cent, with total growth exceeding 28 per cent between now and 2017.

Nick Barnes, head of Chesterton Humberts’ research department, said: "We have seen green shoots flatter to deceive before, however, this time around the level of consumer confidence appears more robust and if favourable mortgage finance remains available, the long awaited recovery may at last be sustained. What we need in tandem with this upswing, however, is an increase in housing supply to mitigate any potential price bubble."

Chesterton Humberts predicts that East Anglia will outperform London for the first time since August 2005, with average increases of 6.3 per cent per annum between period 2013-2017, compared to London’s 6.2 per cent. Elswhere around the country its projected growth figures are East Midlands and Yorkshire & Humber up 25 per cent, followed by West Midlands (19.6 per cent), North West (18.3 per cent) and North East (11.8 per cent).

Discover more property articles at Homes and Property
Property search
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs General

Recruitment Genius: Finance Director

£65000 - £80000 per annum: Recruitment Genius: Finance Director required to jo...

Recruitment Genius: Medico-Legal Assistant

£15000 - £25000 per annum: Recruitment Genius: This is a unique opportunity fo...

Ashdown Group: (PHP / Python) - Global Media firm

£50000 per annum + 26 days holiday,pension: Ashdown Group: A highly successful...

The Jenrick Group: Quality Inspector

£27000 per annum + pension + holidays: The Jenrick Group: A Quality Technician...

Day In a Page

Homeless Veterans appeal: 'You look for someone who's an inspiration and try to be like them'

Homeless Veterans appeal

In 2010, Sgt Gary Jamieson stepped on an IED in Afghanistan and lost his legs and an arm. He reveals what, and who, helped him to make a remarkable recovery
Could cannabis oil reverse the effects of cancer?

Could cannabis oil reverse effects of cancer?

As a film following six patients receiving the controversial treatment is released, Kate Hilpern uncovers a very slippery issue
The Interview movie review: You can't see Seth Rogen and James Franco's Kim Jong Un assassination film, but you can read about it here

The Interview movie review

You can't see Seth Rogen and James Franco's Kim Jong Un assassination film, but you can read about it here
Serial mania has propelled podcasts into the cultural mainstream

How podcasts became mainstream

People have consumed gripping armchair investigation Serial with a relish typically reserved for box-set binges
Jesus Christ has become an unlikely pin-up for hipster marketing companies

Jesus Christ has become an unlikely pin-up

Kevin Lee Light, aka "Jesus", is the newest client of creative agency Mother while rival agency Anomaly has launched Sexy Jesus, depicting the Messiah in a series of Athena-style poses
Rosetta space mission voted most important scientific breakthrough of 2014

A memorable year for science – if not for mice

The most important scientific breakthroughs of 2014
Christmas cocktails to make you merry: From eggnog to Brown Betty and Rum Bumpo

Christmas cocktails to make you merry

Mulled wine is an essential seasonal treat. But now drinkers are rediscovering other traditional festive tipples. Angela Clutton raises a glass to Christmas cocktails
5 best activity trackers

Fitness technology: 5 best activity trackers

Up the ante in your regimen and change the habits of a lifetime with this wearable tech
Paul Scholes column: It's a little-known fact, but I have played one of the seven dwarves

Paul Scholes column

It's a little-known fact, but I have played one of the seven dwarves
Fifa's travelling circus once again steals limelight from real stars

Fifa's travelling circus once again steals limelight from real stars

Club World Cup kicked into the long grass by the continued farce surrounding Blatter, Garcia, Russia and Qatar
Frank Warren column: 2014 – boxing is back and winning new fans

Frank Warren: Boxing is back and winning new fans

2014 proves it's now one of sport's biggest hitters again
Jeb Bush vs Hillary Clinton: The power dynamics of the two first families

Jeb Bush vs Hillary Clinton

Karen Tumulty explores the power dynamics of the two first families
Stockholm is rivalling Silicon Valley with a hotbed of technology start-ups

Stockholm is rivalling Silicon Valley

The Swedish capital is home to two of the most popular video games in the world, as well as thousands of technology start-ups worth hundreds of millions of pounds – and it's all happened since 2009
Did Japanese workers really get their symbols mixed up and display Santa on a crucifix?

Crucified Santa: Urban myth refuses to die

The story goes that Japanese store workers created a life-size effigy of a smiling "Father Kurisumasu" attached to a facsimile of Our Lord's final instrument of torture
Jennifer Saunders and Kate Moss join David Walliams on set for TV adaptation of The Boy in the Dress

The Boy in the Dress: On set with the stars

Walliams' story about a boy who goes to school in a dress will be shown this Christmas