UK house prices could be stabilising despite falls, say surveyors

The new sales indicator improved in February, from a net balance of -36% to -26%. Photograph: tupungato/Getty Images/iStockphoto

The UK housing market remains in decline but there are some signs of stabilisation, with an improvement in new buyer inquiries and sales last month, according to surveyors.

Many told the Royal Institution of Chartered Surveyors (Rics) that a return of optimism, and lower than expected interest rates, had given the housing market some hope for the coming months after a sluggish start to the year.