From This is Money:
However, a slight rise in prices will ‘not indicate a quick return to the boom time, Rics has cautioned, as activity remains ‘very weak by historical standards.’
Nationwide last week reported that its index showed prices now slightly higher than at the start of the year, while Halifax’s study showed prices just 1% below their 2008 close.
Rics senior economist Brigid O’Leary said: ‘There has been a clear change in the housing market over the past few months and, as a result, it is unlikely that we will now see the kind of house price falls widely predicted at the start of the year.
‘That would be consistent with more positive expectations that have been reported in recent Rics housing market surveys.
Why are prices rising?…