Property market could turn corner

Activity in the housing market could perk up over the next couple of months, according to the latest report from the Royal Institution of Chartered Surveyors (RICS).

RICS claims that falling property prices are leading to renewed interest among buyers, especially those who already own a home.

First-time buyers remain largely excluded from the market due to a shortage of mortgage deals.

This improvement in activity levels is likely to be sustained over the coming months; mortgage approvals could climb above 35,000 [per month] on the back of the higher level of buyer interest.