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Consumer Home
16 May 2006
Buyers are flocking towards larger properties as house prices rise for the sixth month in a row, new figures show.
Chartered surveyors have seen a rise in house prices in April due to a strengthening economy and confidence in the market, with the number of buyers' enquiries rising for the 11^th consecutive month.
Larger pre-1960s houses with two or three bedrooms are fuelling the growth with the largest price rises, while flats are proving less popular with buyers, reveal figures from the Royal Institution of Chartered Surveyors (Rics).
"The rise of house prices suggests a return of confidence to the market boosted by a healthy economic climate," commented Rics spokesman, Jeremy Leaf.
"Greater economic wealth has boosted prices for larger properties as buyers remain content to invest for the long term, with a rising stock market not detracting interest in real estate."
Demand for housing has led to the stock of available property to fall by ten per cent compared to a year ago, which is the largest drop since 2004, while a 17 per cent increase in sales activity has reduced choice for potential buyers.
If a rise in house prices affects you and your finances, order your credit report to find out where you stand.
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