THE average number of homes on estate agents' books is "at a near all-time low", according to RICS.
The Royal Institution of Chartered Surveyors says spring is usually the start of the busiest time for the North West's housing market.
However, its latest survey suggests the market "failed to pick up" in May 2018, as stock levels continued to fall.
RICS said this resulted in "buyer interest waning and prices increasing".
Simon Rubinsohn, chief economist for RICS, explained: "Although some agents in the North West are suggesting that a little more supply may have come onto the market in May, some of it from the buy-to-let sector, overall inventory levels in the region still remain near historic lows."
RICS said the May 2018 survey showed that the "ongoing shortage of housing stock" in the North West was edging prices higher.
It is predicting the region's housing market will "remain subdued for some months to come".
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