2 Mar

UK property market 'improving'

UK property market 'improving'

The UK's housing market has shown signs of growth, a new report from the Royal Institution of Chartered Surveyors (RICS) has shown.

According to the organisation, Britain was one of only five countries in Europe that saw property prices rise last year.

The organisation - which is a global body for those involved in property, land, construction and environmental assets - said the value of homes in the country increased by one per cent overall in 2009.

This included a ten per cent bounce since a low point in April.

RICS chief economist Simon Rubinsohn commented: "A combination of extraordinarily low interest rates and a raft of government measures have helped to put a floor under residential property markets in most European countries."

Other countries to exhibit improving housing markets were Norway and Finland, which saw prices go up by 12 per cent and eight per cent respectively, while Sweden saw a rise of seven per cent.

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