Rate of increase slows in December
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The rate at which house prices are increasing slowed during December, according to the Royal Institution of Chartered Surveyors.
Some 30% more surveyors reported an increase rather than a decline in house prices during the month in RICS’ latest housing market survey compared with 35% in November.
Surveyors in London, the South-East, the South-West and East Anglia continued to see price increases during the month whereas those in the North and the West Midlands recorded falls.
But Jeremy Leaf, spokesman for RICS, says: “It is likely that the new year will see more interest and activity in the market as potential buyers who have been holding back start to market their properties with renewed optimism.”
Latest data from the Department for Communities and Local Government shows prices in November were up 0.6% on the same month in 2008 and 1.7% up on October.
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