(Source: Associated Press)
Further signs of a stabilization in Britain’s housing market emerged Tuesday with the news from an industry body that house prices rose in the three months to August for the first time in over two years.
In its monthly survey the Royal Institution of Chartered Surveyors (RICS) – a professional body for housing experts who provide services such as valuing homes – said around 11 percent more of its members reported an increase in house prices during the period rather than a fall. The increases were most evident in and around London.
That was the most positive balance since May 2007 when nearly 25 percent more chartered surveyors reported a rise in prices. The last positive balance was July 2007’s 8 percent.
Read Pan Pylas’ full article “Survey points to rising British house prices” in Forbes (September 15, 2009).