Property prices 'continuing to rise'
Despite a modest increase in the number of properties coming up for sale, little effect has been had on the market as prices continue to rise, a new report has found.
The Royal Institution of Chartered Surveyor' UK Housing Market survey has found that 28 per cent more surveyors claim enquiries from potential purchasers are rising rather than falling.
This is the sixth consecutive month of growth noted in the report.
Simon Rubinsohn, chief economist at the Royal Institution of Chartered Surveyors, said the main reason driving increases in house prices is that property supply is failing to keep pace with consumer demand.
"The squeeze that was evident in the market earlier in the year, the imbalance between supply and demand is still there," he added.
Such news may convince Britons that it is better to look for flats to rent in Kensington or another part of London while prices remain high and choice is limited.
Written by Charles Mackay
Published 17th December, 2009
© 2009 Estates IT Limited
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