UK property looks positive for those selling a house

Data released by the Royal Institute of Chartered Surveyors (Rics) today has shown that the current UK property market is in a good condition for people looking to sell a house, with prices rising and demand high.

Property prices showed the strongest rise in two years last month, according to Rics, with 20 per cent more chartered surveyors reporting a rise than a fall – compared to 15 per cent in April.

The values have been pushed up by high demand, the organisation reports, which has not been tempered by speculation over a possible rise in interest rates and volatility in the stock market.

Sales have consequently gone up, with 18 per cent more chartered surveyors reporting growth in new instructions to sell as vendors place more properties on the market.

Jeremy Leaf, spokesman for Rics, said: “The strength of the housing market suggests consumer confidence in the UK economy.

“Buyers are trading up the housing ladder and have blown dust from their wallets as interest rates remain stable.”

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