THE amount of property coming on to the market has risen to its highest level since May 2003, according to research out.
The Royal Institution of Chartered Surveyors said February saw a modest increase in the number of agreed sales, although completed sales slipped slightly.
The number of new queries from potential buyers remained unchanged.
Concerns over another increase in interest rates are holding back demand, despite the generally strong economy and labour market, the RICS report said.
Buyer activity is still limited, while the number of sellers continues to increase moderately, resulting in a significant increase of property on surveyors' books, which is up 32pc over the past year.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article