New data from the Royal Institute of Chartered Surveyors (RICS) shows new buyer enquiries have increased at there fastest rate since Aug 2006, increasing for the 4th consecutive month.

However this rise in demand has not fed through to sales, with newly agreed sales and completed sales both falling. The average number of transactions per estate agent is down to 9.5, the lowest since the survey began in 1978.

If prices continue to fall and mortgage loandeals continue to offer better value, perhaps we will see a turnaround sooner rather than later.