Latest RICS survey shows House prices rise in September

October 13, 2016

House prices in the UK rose for a second month in September, according to the latest survey from the Royal Institution of Chartered Surveyors (RICS), it shows its monthly house price index increased to +17 in September from +13 in August,

The report mentions that more chartered surveyors are reporting an increase in buyer enquiries, up for the first time since February, suggesting the housing market has come through the initial shock of the Brexit vote.

The RICS expect to see London house prices fall rather than rise over the next three months, however, the majority of surveyors expected house prices to increase nationally.

Simon Rubinsohn, RICS chief economist, said: “The market does now appear to be settling down following the significant headwinds encountered through the spring and summer.

“Buyers do appear to be returning, albeit relatively slowly, but the big issue that continues to be highlighted by respondents is the lack of fresh stock to the market.

“Central London remains something of an outlier with contributors telling us this is the one part of the market where there may be further give on prices in the near term.”

Read the latest RICS survey in full click here

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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