RICS: House prices still increasing

There was another rise in house prices last month, although the market has not fully recovered just yet.

Statistics from the Royal Institution of Chartered Surveyors (RICS) show that 32% more respondents reported a rise in house prices, compared to 30% in the previous month.

RICS Spokesperson Ian Perry commented: "The cold snap in January clearly has a huge impact upon both supply and demand in the housing market with activity coming to a halt amidst the seasonal chaos."

He suggested that activity would start to pick up over the coming months, as buyers tend to be out in force in spring.

Additional figures show that 24% of surveyors anticipate that sales will increase over the next three months.

The Council of Mortgage Lenders recently revealed that gross mortgage lending in December last year reached an estimated £13.7 billion, marking a 14% rise on the previous month.

Posted by Ruth Bradshaw