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UK house prices up

14 October 2009 Reporter

UK house prices have delivered their strongest rise in two years, according to a new survey.

The Royal Institution of Chartered Surveyors – the professional association for valuation groups – yesterday revealed that its headline house price balance had reached the highest level since the onset of the GFC.

A spokesperson from the Chartered Surveyors said a lack of supply was underpinning the rise in house prices with new instructions to estate agents only edging up very gradually.

“Despite the problems first time home buyers are experiencing in securing finance, the level of inquiries from potential purchasers is increasing. This imbalance between demand and supply suggests that house prices will move higher in the near term,” the spokesperson said.

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UK house prices up
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