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Tuesday, May 12, 2009

Dead Cat Bounce, or Green Shoots?

There are tentative signs of a recovery in the housing market. The Times reports that the Royal Institution of Chartered Surveyors (RICS) have stated that 41% more chartered surveyors are reporting new buyer inquiries rising rather than falling in April, this is the highest reading since August 1999.

RICS also reported that estate agents sold an average of 10.6 properties between February and April, this is up from 9.7 in the three months to March.

On the retail front, the British Retail Consortium (BRC) reported an increase in like for like sales in April of 4.6% (the largest increase in 3 years).

The question is, are these green shoots or merely a dead cat bounce?

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