HOUSE sales in the North-East increased during March, but the number of properties coming onto the market continues to fall, according to latest figures.

A UK Residential Market Survey conducted by the Royal Institution of Chartered Surveyors (RICS) showed 19 per cent more surveyors in the North-East reported a rise in sales last month, compared with five per cent during February.

Neil Foster, chair of the RICS North East Residential Group, believes the rise in sales could be due to more buyers taking advantage of the market before the election.

He said: “Spring is a great time of year to capitalise on increasingly favourable market conditions.

"Some homeowners may be tempted to hold back from putting their property up for sale until after the General Election but, historically, such tactics can often backfire with a glut of property coming onto the market as soon as election day is behind us.”

Meanwhile, surveyors reported a slight decrease in sales expectations in the region, with 33 per cent expecting sales to rise further after the election, compared with 35 per cent in February.

This decline in sales expectations is most likely due to a supply versus demand imbalance, as respondents said more homes are still needed to keep up with increasing demand.

Only 12 per cent of North-East surveyors expect prices to rise over the coming three months, compared with 20 per cent in February.

Jeremy Blackburn, RICS head of policy, said: “Aspirational home ownership is at the core of our economy, but we must ensure that we have a future stock across all tenures and particularly for those on lower incomes.”

Nationally, Northern Ireland continued to outperform the rest of the UK with the strongest house price growth in March and the highest price expectations over the next three months.