10 Jul

Rics report shows UK property recovery

Rics report shows UK property recovery

The latest report from the Royal Institute of Chartered Surveyors (Rics) has shown that there is now a degree of recovery in the UK market that has been unseen for more than three years.

According to data released by the company, the number of chartered surveyors reporting that prices rose in June was 21 per cent greater than those saying they had fallen.

This was the best performance seen at any time since 2010, and the first time there had been a single-monthly jump of such significance at any time since the beginning of 2009.

Part of the reason behind the fantastic recovery of the market at the moment has been the strength of the Funding for Lending scheme, which has allowed more lenders to offer mortgages to people who may have previously struggled to get one.

Peter Bolton King, Rics global residential director, said: "After what has seemed like a very long wait we are finally starting to see what looks like the beginning of a recovery in the housing market."ADNFCR-1222-ID-801610713-ADNFCR

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