RICS report continued house price rises

Chartered surveyors’ expectations for future house price growth were at their highest level in over 14 years during November, according to the Royal Institution of Chartered Surveyors.

RICS says 59 per cent more surveyors predict prices to continue upwards rather than fall back over the coming three months – the highest reading since September 1999.

In recent times we have witnessed increases some areas, particularly London, however many regions remained flat. However, these recent reports show that each region of the UK saw price rises for the second successive month, a sign that the regional markets are responding to Government incentives such as Funding for Lending and the Help to Buy scheme, according to RICS.

During the three months to November, the average number of homes sold per surveyor hit 20.6, a significant improvement on the same period last year when respondents were selling just 15.9. A record 76 per cent of surveyors expect sales to increase in the New Year.

 

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