Has spring sprung in the housing market?

In its latest housing market survey, the Royal Institute of Chartered Surveyors (RICS) has noted that "Buyer interest is starting to gain real momentum”, although it admits that the market is “still in a fragile state”.

Its figures for March showed that new enquiries increased for the fifth consecutive month and the key sales to stocks ratio rose for the third consecutive month.

Meanwhile, Nationwide’s latest House Price Index reported a surprise increase of 0.9% in March, but again it said it was too early to talk of house price recovery.

At L&C, March saw yet another monthly rise in the number of purchase mortgage applications we placed on behalf of customers.

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