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RICS survey reveals house price rises

10 February 2010

Property owners in the UK, who are considering taking out an equity release plan to boost their finances, could be among those to be encouraged by the results of a recent survey.

Figures from the latest housing market study from the Royal Institute of Chartered Surveyors (RICS) have revealed that house prices are continuing to rise.

According to the research, 32 per cent more chartered surveyors recorded a rise, rather than a fall, in house prices last month, up from 30 per cent in December 2009.

This could come as good news to those who are thinking about an equity release scheme, for example a lifetime mortgage or home reversion.

The price rises came despite a lull in activity in the housing market, according to RICS.

Data from the survey also revealed that 20 per cent more surveyors said they had noticed a drop in new buyer enquiries.

This compared to a positive result of 18 per cent in the previous month.

RICS said the drop could be attributed to the severe weather conditions that gripped the UK over the holiday season.