There are "tentative signs"that the property market is picking up, according to Royal Institution of Chartered Surveyors (Rics) spokesperson Jeremy Leaf.

Although transactions remain low, there are apparently some indicators that the sector is starting to head in the right direction.

He was commenting after Rics published its Housing Market Survey for April, which showed that new buyer enquiries rose during the month.

Indeed, queries were at their highest level for almost a decade, a statement from the group indicated.

Additionally, 70 per cent more chartered surveyors reported that there was a rise, rather than a fall, in new buyer enquiries in April.

With Halifax saying last week that housing is currently at its most affordable level since the start of 2003, it was perhaps no surprise that property sales were reportedly up during the month.

"Transaction levels could benefit from an increase in supply but falling prices and low interest rates are discouraging sellers as is the latest change in [home information pack] legislation,"Mr Leaf explained.

Written by Mark Garner

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