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Thursday, 17 October, 2002, 03:35 GMT 04:35 UK
House prices 'on the rise again'
A street full of for sale signs
Housing market is buoyant
House price inflation is on the rise again, a survey of property experts has said.

A poll of chartered surveyors has indicated renewed strength in prices, with East Midlands and Yorkshire showing the biggest gains, and even London's house market showing signs of revival after a summer slowdown.

The difference between the percentage of surveyors reporting rises in prices to those seeing falls was 58% last month, the Royal Institution of Chartered Surveyors (Rics) said.

In August, the difference was just 52%.

Despite rising prices, the number of potential home buyers making enquiries also rose, Rics said.

In September, the proportion of surveyors reporting a fall in buyer enquiries was 10% compared with 29% in August.

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Open in new window:UK property market
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The house price boom
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Housing shortage

Surveyors believe the growth in house prices is being underpinned by a shortage of properties for sale, meaning buyers face competition to secure deals, Rics said.

And in the short term RICS say members expect prices to keep on rising.

The number of surveyors expecting sales to rise remains high, with 43% more contributors expecting an increase rather than a fall.

"Following a slight easing back in price rises in July and August, house prices are once again rising strongly and that looks set to continue," said Ian Perry the Rics national housing spokesman.

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Charcol's Ray Boulger
"Mortgages are much more affordable today than they were some years ago"
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29 Aug 02 | Business
21 Aug 02 | Business
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