RICS UK Housing Market Survey May 2009
According to the report, the average number of properties sold in the past three months increased to 11.8, up from 10.6. While demand seems to be rising, supply appears to be falling at the same time further leading the market to reach conditions that will help it stabilize and eventually recover. In particular, the average number of properties handled by surveyors in May dropped to 58.4 from 69.4 in April. According to RICS, these developments in the demand and supply side of the market have resulted in an increase in the sales-to-stock ratio to 20.1% from 15.2%, which is a sign of an improving market.
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