Houses are not appearing on the market as quickly as possible and many people are opting to buy now rather than risk paying more for a similar property over the coming months, say the Royal Institution of Chartered Surveyors in their latest housing market survey published today.

Despite the ongoing debate about a potential housing market crash, surveyors are confident that prices will continue to rise in the months ahead, particularly in the North of England and Wales.

Interest rate rises and speculation of house price crashes does not seem to have either significantly discouraged buyers from looking for their next home, or encouraged others to put their property on the market. This is creating what is commonly referred to as a “tight” market situation – and it is these conditions, which will create an upward pressure on prices over the next few months. In April, 35 percent more surveyors expect prices to rise than fall over the next three months, compared to 38 percent in March.

New buyer enquiries showed little change for a second consecutive month, with 4 percent more surveyors reporting a rise in enquiries than a fall in April, compared to 3 percent in March.

The number of properties coming onto the market remains little changed, as 1 percent more surveyors report a rise in instructions than a fall, compared to 7 percent in March.

Property sales remained static for the three months to April, averaging 32 per chartered surveyor. But surveyor expectations for future sales are gradually improving. Sales confidence is strongest in London and throughout the South East.

RICS housing spokesman, Jeremy Leaf, says: “The expected springtime flood of properties onto the market has just not materialised. Many people are realising that the current number of houses for sale is as good as it gets for now, and are looking to buy quickly rather than risk paying more for a similar property over the coming months.”

“In this environment it is important that both sellers and buyers are not taken for a ride. Sellers may find their properties are overvalued and sit on the market for a while, whilst some buyers are paying above the odds in order to secure a property. We need to caution against the market overheating again.”