UK:House prices rise as surveyors report few properties on market

House prices in the UK unexpectedly surged in June with a shortage of homes on the market driving the pace of increases to the fastest level in nine months. The Royal Institute of Chartered Surveyors reported that the average stock of houses per surveyor had fallen to the lowest level since it started collecting this … Read more

UK:Home lending reaches £16bn

An estimated £16.2billion-worth of mortgages was handed out in May, marking a five-month high, figures from the Council of Mortgage Lenders (CML) showed. Writing on the CML’s website, CML economist Mohammad Jamei said: “As we expected, activity in the housing market is showing signs of a modest recovery.” He added that the low mortgage rates … Read more