Tuesday, October 13, 2009
RICS – Biggest increase since May 2007
The proportion of estate agents reporting house price rises exceeded those reporting falls by 22%, the highest in RICS survey since May 2007. "A lack of supply is still underpinning the rise in house prices with new instructions to estate agents only edging up very gradually," said Rics spokesman Ian Perry. This imbalance between demand and supply suggests that house prices will move higher in the near term."