House prices remain stable
The recent rise in house prices is expected to slow, according to the Royal Institution of Chartered Surveyors (Rics). Their prediction comes after the recent rise in the number of new property finding their way into the housing market has outpaced new buyers, during February.
The rise in house prices last year has been accredited to the lack of property finding its way onto the market, but now as property prices rise more people are looking to sell. Despite this Rics reported that surveyors were still seeing a rise in house prices rather than the anticipated fall.
A spokesman from Rics, Jeremy Leaf said: "There was a resumption of interest in the housing market following the fall that took place in January which was due partly to the extreme weather conditions during that month and the reversion back to the previous stamp duty regime."
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March 10th 2010