GOADSBY reports "an exceptionally strong start to the year" for residential property.

The firm remains optimistic - despite interest rate rises and negative reports on the impending launch of HIPS.

Residential managing director, Nigel Price, said: "The market is still extremely buoyant and our first quarter results show an 11 per cent increase on last year.

"Viewing numbers are up by 20 per cent and valuations up by 21 per cent. Perhaps more significantly we have registered an increase of eight per cent in the number of new buyers looking for homes. The average sales value for property within our operating network has increased by 17 per cent."

He added: "Bearing in mind some fairly negative press comment, especially covering the residential market, we are well pleased with these results.

"As a broadly based property advisory company covering the residential sales, lettings and land markets, we believe we have a pretty accurate feel for the property market in this part of the country.

"Current market conditions indicate that - contrary to recent market commentary - we are not currently experiencing an untoward surge of activity pre HIPS.

"In addition, neither vendors nor purchasers seem to be overly worried about interest rate rises and we continue to experience strong demand for all types of property throughout our operating network, which is all good news for the local property market."