House prices edge up

Article Type: Newsbriefs From: Structural Survey, Volume 28, Issue 5

Keywords: Homes, Prices, Trends

UK house prices edged up in May 2010, but the Government’s decision to abolish HIPs has given supply a boost, says the latest RICS housing market survey. RICS spokesperson Ian Perry said, “Surveyors are generally confident that sales will continue to pick up over the summer months. The increase in supply as a result of the abolition of HIPs is helping to support this optimism despite continuing concerns about mortgage finance. A higher level of instructions should meanwhile also lead to a flatter trend in house prices in the latter part of the year”.