House Market Struggles with More Sellers than Buyers

The Royal Institution of Chartered Surveyors (RICS) has reported that the number of people who currently have their property on the market has reached its highest since May 2007.

It added that increasing prices were still more common than falling prices in the UK as a whole, however the news was not quite so good for sellers in Northern Ireland, where prices had dropped.

It is anticipated that prices will stabilise and activity in the market will steadily rise over the coming months. This is likely due to the upcoming general election, with both buyers and sellers alike being keen to secure any purchase or sale before possible political change can take place.

In particular first time buyers will be keen to take advantage of the Governments "stamp duty holiday" for first time buyers purchasing a property up to the value of £250,000.

Ian Perry,  spokesman for the RICS said "With the general election approaching and uncertainty growing over the political direction of the country, many vendors who were previously inclined to sit on the sidelines now appear eager to put their properties on the market,"