Confidence in the Portuguese real estate market has now been positive for the past year and sales are rising, according to new data.

Although the availability of credit is increasing, prices are still falling nationally and performance is varied across the regions, according to November’s RICS/Ci Portuguese Housing Market Survey (PHMS).

The PHMS provides a monthly assessment of the sales and lettings sectors in Lisbon, Porto and the Algarve, from around 100 agents and developers.

November’s data shows a continued recovery in national sales, although performance varies between regions. Rising sales expectations during November suggest stronger growth may be on the horizon.

Despite the rise in activity, national prices fell marginally, although this is not reflective of the trend across all regions. House prices were unchanged in Lisbon, but continued to fall in Porto and to a lesser extent in the Algarve. Headline prices are expected to remain stable over the next three months, according to the survey.

The national confidence index (a composite indicator of price and sales expectations) edged up slightly to +17, following +14 in October, and has now been in positive territory for 12 months. The index varies between -100 and +100.