UK property shortages drive up prices
Property shortages in the UK are continuing to drive up prices, according to the latest figures from the Royal Institution of Charter Surveyors (Rics).
The UK Housing Market Survey from Rics for November suggests that property prices increased for the fourth month in a row. Demand is also outstripping supply with 28% of surveyors saying that enquiries from buyers were increasing.
In addition, the number of surveyors reporting an increase in prices was 35% larger than those reporting price falls. Rics said that this was the strongest set of results since 2006 and the trend was likely to continue.
Ian Perry, Rics spokesman, said: "For the fourth month in a row, the survey points towards prices rising, even though the general state of the economy would suggest that the housing market should not be faring as well as it is."
Figures released from the Right Move House Price Index recently showed that house prices at the end of 2009 are higher than they were a year ago and the average value of a UK house now stands at £221,463.
Visit our off-plan property UK page
< Back to latest news