Home vendors 'must be realistic over prices'

Despite the terrible weather seen in many parts of the county last month, a steady number of potential buyers still got out there to test the market.

However, this didn't result in a higher level of actual transactions. Fewer sellers are putting their homes up for sale and the ongoing problem of accessing affordable finance is not helping.

If vendors want to sell their homes quickly, they will have to be realistic in their price expectations.

– Peter Bolton King, RICS global residential director

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House prices rise by 2.3%

House prices in the UK has risen by 2.3% compared to last year, defying surveyors' predictions that they would fall. Much of the increase was driven by a 6.5% rise in London, but they fell by 11.8% in Northern Ireland.