THE average number of houses sold per chartered surveyor in the West Midlands jumped to its highest level in four years during the first three months of 2014 as increasing numbers of buyers looked to test the housing market right across the country, says the RICS March Residential Market Survey.

In the three months to March, respondents in the West Midlands sold, on average 24 homes, the highest amount since February, 2010. The latest increase in transactions comes at a time when the market is showing greater signs of life right across the country.

Last month, all parts of the UK saw buyer enquiries increase, with the exception of Wales, where new interest was static after strong growth in previous months. Moreover, newly-agreed sales rose most notably away from London and the South East for the second consecutive month.

While activity is now showing encouraging signs of life in the West Midlands, the market in general, however, continues to be hampered by the lack of homes coming onto the market. New instructions from vendors continued to fall in March as the predicted "spring bounce" failed to materialise, a situation that was reflected in most parts of the UK.

Significantly, the increase in activity continues to be accompanied by rising house prices. During March, 42 per cent more surveyors across the West Midlands saw prices rise rather than fall.

Looking ahead, with no indication that the imbalance between buyer demand and homes on the market is going to change any time soon, surveyors expected prices to continue to increase as we enter the summer months.

Simon Gibbs RICS West Midlands residential spokesman, said: “Stock levels in the West Midlands as a whole are now improving but as we enter April buyer`s interest seems to be elsewhere. This may be a temporary blip but at least holds out the prospect of equilibrium returning and perhaps easing in the rate of house price growth.

"Budget measures to boost new home starts seem to have been overlooked in favor of continuing help for buyers when mortgage finance is becoming easier to find. This could prove a risky strategy but with such a mixed picture it is difficult to find a one measure suits all policy.”

Simon Rubinsohn, RICS chief economist, said: “Now that the housing market recovery is well and truly under way and mortgage finance is more readily available, buyers seem to be looking to test the market right across the country, not just in the usual hot spots of the South East.

"That said, it is a major concern that we are not seeing enough houses coming on to the market. For the market to operate effectively, we desperately need more homes in areas where people want to buy and want to live.

"Until this happens we’re likely to see prices to continue to increase and it is going to be ever harder for many first-time buyers to conceive of ever owning their own home.”