Subscribe Feed (RSS)London house prices to rise, say the RICS
July 14th, 2009 by Karelia | Filed under House Prices, London House Prices.Musings of a London Property Finder
The RICS (Royal Institute of Chartered Surveyors) have supported our anecdotal musings, stating that price expectations for London over the next six months are positive, given the lack of new instructions and burgeoning lists of wannabe-buyers. In the RICS monthly house price survey published today, the Institute have declared that they expect house prices in London to rise for the first time in two years.
As we reported last month, the RICS statistics show that London house prices have been largely rising this year. Their report also signals house price increases for the South West and that prices will remain flat in the South East overall.
The surveyors have made clear that price increases are due to a lack of supply, partly, as a result of the introduction of HIPs, as we have been saying for months. They suggest that any significant increase in houses for sale is likely to lead to house price deflation once again, as they are currently reproting in the North and in the Midlands. In fact it seems that there is a direct corelation between the areas where house prices show most growth and the areas where most property for sale. Supply vs demand. Simple really.
As for us, we’re sticking with our theory that the back end of this year will be a good time to buy. Only time will tell whether we or the RICS are right, but if you want the right house at the right price - then this London Property Finder is probably one of the best house price anoraks around!
Tags: house price crash, London house price crash, London House Prices, London Property Finder, london property search
