House price growth in Britain has shown no sign of slowing down after the recent interest rate hike earlier this year, according to the Royal Institute of Chartered Surveyors (RICS).
The latest housing market survey by RICS shows that March saw house prices rise for the 17th consecutive month.
A spokesman for RICS said, "25.5% more chartered surveyors reported a rise than a fall in house prices, up from 24.8% in February, and the pace of increase remains above the long-run average of 21.6%."
Jeremy Leaf, RICS commented, "The housing market has absorbed the initial interest rate barrage, but history tells us that further rate rises could knock confidence and activity significantly later in the year."
He said, "Strong demand within the housing market offset concerns about harder mortgage repayment, meaning that "prices are unlikely to fall in the short term"."
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