House prices rise for sixth month

House prices across much of the UK have risen for the sixth consecutive month a new Royal Institute of Chartered Surveyors (Rics) report has revealed.

The gains are currently being driven by the top end of the market, with the cost of larger properties dragging others along with it.

The demand for property is also stabilising as the economy grows stronger, reports Rics.

“The rise of house prices suggests a return of confidence to the market boosted by a healthy economic climate,” said Rics spokesman Jeremy Leaf.

“Greater economic wealth has boosted prices for larger properties as buyers remain content to invest for the long term, with a rising stock market not detracting interest in real estate.”

Two and three bedroom houses constructed before the 1960s have led the market, gaining more in value than at any time over the last two years.

Flats have performed below the market however, causing the gap between the top and bottom ends of the market to expand to its widest point in five years.

New buyer enquiries were also up as potential homebuyers took advantage of the best mortgage rate deals.

© Adfero Ltd

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