Good Signs in 2013 for UK Housing Prices
According to a survey, the prediction for the remainder of 2013 is that UK house prices will see a strong increase. This is in spite of house prices falling further during the three months leading up to February.
The seasonally adjusted house price balance from the Royal Institution of Chartered Surveyors went from -4 to -6 in the three months to January, indicating that prices were relatively stable.
Economists were expecting to see an improvement from the -2 level.
As for the non-seasonally adjusted balance, there was an increase to +25, up from just +18 in January. This represents the highest balance in the last three years.
The RICS also said that house sales achieved their highest level in two and a half years. Peter Bolton King, RICS Global Residential Director said that the UK housing market was picking up in most areas although it was still low compared to levels before the global financial crisis.