There's further evidence of a continued recovery in house prices。A report
from the Royal Institution of Chartered Surveyors has found the value of
property continued to rise during October…despite an increase in the number
of houses on the market. The group found 34% more surveys reported, seeing
price rises at highest levels since December 2006 and since the credit
crunch struck. The latest official data from the Government Land Registry
Office is also positive…showing prices in September rose by 0.9%, up a
half a percent from August. Economists have attributed the recent strength
of the housing market to a shortage of homes for sale…and warned that as
more properties are put on to the market, prices could start to fall again.
Experts also believed record low interest rates have made property attractive
to investors, spurring demand. And the new report has found that surveyors
expect house prices to continue rising over the coming months…led by an
increasing number of transactions, particularly in London and the South.