1 Jun

House price figures 'in line' with RICS' findings

House price figures 'in line' with RICS' findings

Nationwide Building Society's recent housing industry survey is in line with the Royal Institution of Chartered Surveyors' (RICS) sales-to-stock ratio findings.

The chartered surveyor group was positive about the building society figures and said its own research is "historically a good lead indicator of turning points in house price inflation".

Nationwide's study said that there was a 1.2 per cent rise in the average value of property in May. It also indicated that the average price stood at £154,016 up from April's figure of £151,861.

It comes after the National Association of Estate Agents suggested last month that the average agent in the UK sold more homes in April than in March.

This increase - from eight to ten - was said to be further evidence that confidence is returning to the property market, and a significant rise on the average estate agent's sales rate from the end of 2008.

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