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Residential Values up Again

LONDON-The RICS housing market survey for England and Wales for the three

By Charlie Jacoby | Updated on October 18, 2002

LONDON-House prices are going ballistic again. According to the RoyalInstitution of Chartered Surveyors housing market survey for England andWales for the three months to September 2002, the difference betweensurveyors reporting a rise in prices and those reporting a fall was 58% inSeptember, up 6% on the previous month and almost two and a half times thelong-term trend of 24%.

Across the country the upturn in prices wasstrongest in the East Midlands and Yorkshire and Humberside, but the Londonmarket showed signs of picking up following a slowdown over the summer.

Despite rising prices, the potential number of buyers making enquirieswent up in comparison with the previous month. In September the number ofcontributors to the survey reporting a fall in buyer enquiries was 10%compared to 29% in August.

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