House prices set to rise - surveyors.CHARTERED surveyors are predicting house prices will rise for the first time in 18 months.
The Royal Institution of Chartered Surveyors | The Royal Institution of Chartered Surveyors (RICS) is an independent, representative professional body which regulates property professionals and surveyors in the United Kingdom and other sovereign nations. said increasing demand from potential buyers and the possibility of further interest rate cuts had led surveyors to predict house prices would increase marginally by the end of the year.
Although the rises expected are small, it adds to growing evidence that the property market may have turned a corner.
Britain's biggest mortgage lender Halifax recently said the cost of property had risen by 1.8% in the past three months, while property website Rightmove yesterday said prices increased by 0.5% during September.
At the same time RICS RICS Royal Institution of Chartered Surveyors
RICS Royal Institute for Chartered Surveyors
RICS Right Intercostal Space (medicine)
RICS Return Inventory and Classification System
RICS Range Instrumentation Control System said the number of surveyors who reported seeing price falls continued t o decrease.
During September 21% more surveyors in England, Scotland and Wales Wales, Welsh Cymru, western peninsula and political division (principality) of Great Britain (1991 pop. 2,798,200), 8,016 sq mi (20,761 sq km), west of England; politically united with England since 1536. The capital is Cardiff. said they thought the value of property had dropped, down from 25% in August