House price increases are more widespread since May 2004 , which was the height of the property boom.
Royal Institution of Chartered Surveyors indicates that price rises have been increasing for the last five months, with buyers returning to the market and little new property.
35% more surveyors reported house price increases rather than decreases in August, up from 30% in July, the highest figure for 26 months.
Moreover, buyer enquiries increased faster in August than at any other time since September 2003.
Buyers do not concerned about the rising cost of borrowing, surveyors being more worried.
Expectations of house prices rising have decreased, Rics reports, the first time since September 2005.
London has been the worst affected after the interest rate rise, with house price confidence in London being the highest.
It seems like rising house prices are likely to prevent entry into the market. Accessibility is 300% worse than ten years ago, with first-time buyers likely to struggle more.
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Thu, 14 Sep 2006
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