House prices rising but 'at slower pace'
House prices rising but 'at slower pace'
Tuesday 12th January 2010
UK house prices continued to rise in December but at a slower pace, surveyors have said today.The Royal Institution of Chartered Surveyors (Rics) said 30 per cent more surveyors reported a rise than a fall in house prices last month, but this was down from 35 per cent in November.
A north/south divide was seen in the Rics housing market survey for December, with price increase in London, the south-east, the south-west and East Anglia, but falls in the north and West Midlands.
RICS spokesperson, Jeremy Leaf said: "New enquiries are continuing to outpace new instructions which is helping to push house prices higher.
"The recent loss of momentum in prices and the moderation in new buyer interest can be in part attributed to the housing market pulling down its shutters for Christmas. It is likely that the new year will see more interest and activity in the market as those who held back start to market their property with renewed optimism."
For the seventh consecutive month, more surveyors reported that the number of new instructions is increasing rather than falling.
And 20 per cent more surveyors stated that enquiries from potential purchasers are rising rather than falling but enquiries rose at the slowest pace since January 2009.
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