<p>Surveyors expectations about the housing market have improved significantly according to latest research from RICS.</p> <br><p>The number of respondents expecting an improvement in sales is at the highest level since the RICS housing market survey began in 1998, and there has been a significant increase in the number of surveyors expecting prices to rise.</p> <br><p>Chartered surveyors saw an increase in new enquiries in May and sales also rose albeit from depressed levels. The average number of properties sold over the past three months rose to 11.8, up from 10.6. The net balance of surveyors reporting a fall in house prices rose from a negative balance of 58.7 to a negative balance of 44.1.</p> <br><p>New instructions continue to fall and this lack of new supply coupled with the increase in activity is now providing some support for house prices.</p> <br><p>RICS spokesman Ian Perry said: "On the face of it the housing market does appear to be close to bottoming out with activity picking up and prices at last stabilising. However it is important to remember that the lack of supply has been as important in underpinning prices as the rise in demand."</p>