The RICS December 2012 Housing Market Survey shows prices held broadly stable throughout December.
In positive signs for the market, buyer interest has been on the increase translating to a small increase in transaction levels.
RICS point to the gradual drift downwards of key fixed-term mortgage rates in helping buyer interest pick up.
The BoE’s Funding for Lending Scheme (FLS) has also had an effect. The ‘headline’ national price balance improved from -9 to 0 meaning the same proportion of surveyors reported price falls and rises over the last three months, cancelling each other out on a net basis.
Surveyors have upgraded their price outlook for three and twelve month forecasts. The London market continues to outperform the rest of the UK, and has also seen a marked pick up in price momentum, activity and expectations in recent months.
