UK house prices show fastest rise for nearly seven years


New data from the Royal Institution of Chartered Surveyors (Rics) has found that UK house prices have grown at their fastest rate in nearly seven years, according to
The seasonally adjusted house price balance metric climbed to +40 last month, meaning that UK house prices are now at their highest since November 2006. The organisation has also found that house prices are set to grow even more over the coming year (2.2 per cent) and that +45 surveyors are predicting a price growth over the next three months.
Data from the organisation also showed that the average number of properties sold by surveyors in the last three months increased by 17.9 per cent. This is the highest since back in January 2010. As well as this, the number of houses for sale on the market increased in August too.
Talking about the results, a spokesman for Rics told "Momentum is increasingly broad-based across the country; this isn't just a London story."
They added: "With positivity starting to return to areas right across the UK, it seems those who may have been waiting for the right time to sell are choosing now to do so."
Peter Bolton King, Rics global residential director also said that those who are planning to move should do so now.