13
May
RICS comments on future of house prices
Those selling houses could see that their property rises in value
this year, new comment from the industry indicates.
Chief economist at the Royal Institution of Chartered Surveyors
(RICS), Simon Rubinsohn, said that he has not ruled out the
possibility that house prices will increase in the near
future.
He is more certain of the fact that the value of bricks and mortar
in the UK will begin to stabilise as the year draws on, although it
is a "hard call" to predict whether the pattern of falling prices
over the last few months will be reversed.
"It all depends to a large extent on whether or not this lack of
supply - which is very visible in our new instructions balance,
[and] which every month in the last two years, virtually, has
fallen – continues," he explained.
Mr Rubinsohn's comments come after Steven Noakes, commercial
mortgage manager at Lloyds, gave his view on the property market
last week.
In an interview with the Sunday Times, the bank boss suggested
property prices still have six per cent to fall before levelling
off.
