UK house prices rising, according to surveyors

A poll taken by a large number of property surveyors has shown that house prices in the UK are still rising – with the possible exception of London and the North of England.

The demand for housing is still outweighing the available supply, in what the Royal Institution of Chartered Surveyors has called a “worrying” pattern.

Of the surveyors asked, nearly a quarter more of them reported rises than reported falls.  The exact figure standing at 21% of surveyors reporting increased house prices.

This trend does not yet show any sign of changing, with surveyors predicting that it will continue throughout 2015.
Simon Rubinsohn is the chief economist for the Royal Institution of Chartered Surveyors, he claimed that these price rises were a result of a low supply of available housing on the market.

“Even more worrying are the tentative signs that price momentum could be set to pick up once again, as the supply of stock to the market continues to fall,” he said.

“It is significant that price expectations nationally are accelerating both at the three and twelve-month time horizons, and at the latter, they are at their highest level since the spring of last year.”

Halifax have stated that they believe house prices to have risen by 0.4% in March 2015, after falling by 0.3% in the previous month.

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