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UK House Prices Continue to Rise, Say Surveyors

LONDON-House price rises accelerated rapidly in January according to the RICS housing market survey for England and Wales for three months to January 2002.

By Charlie Jacoby | Updated on February 20, 2002

LONDON-Prices went up faster in January than recent months, according to the latest survey of the housing market from the Royal Institution of Chartered Surveyors.The difference between chartered surveyors who reported prices rising against those who reported prices falling was 46%, up by 17% on the figure reported last month. It was also the highest figure for six months and double the difference reported in November, when the market took a downturn. Most contributors to the survey reported monthly price rises of up to 2%.

At the same time the ratio of completed sales to stock rose to 51%, the highest for thirteen years, a clear indication that the housing market has recovered from the downturn following 11 September.

The average number of house sales per chartered surveyor was 37, up one from last month. The average number of homes on surveyors’ books remained the same in January at 74.

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