19 February 2002, 12:23 UK's RICS shows house prices remain buoyant as supply squeeze continues
LONDON (AFX) - There was further evidence today that the UK housing
market remains as buoyant as ever, and the Royal Institution of
Chartered Surveyors said prices are rising at their fastest rate since
last summer, as the supply squeeze continues.
According to RICS, prices are rising most rapidly in the north but
London is also seeing a recovery after a dip at the end of last year.
RICS said the difference between chartered surveyors who reported
rising prices against those reporting falling prices was 46 pct, up by
17 pct on the figure reported last month.
It was also the highest figure for six months and double the
difference reported in November, when the market took a slight
downturn.
RICS also said that prices are expected to rise over the next few
months. The balance of those expecting rises and those expecting falls
is 55 pct, the highest recorded for a year.
Ian Perry, RICS' residential housing spokesman said the housing
market "is showing considerable strength right across the board, from
prices through sales to new enquiries".
The recovery looks set to continue in the coming months, though he
added that the increasing number of job losses could have a restraining
influence on the market, should they continue.
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