From This is Money:
Twenty-two per cent more agents saw rises than falls in September, the highest ‘positive reading’ since May 2007 and compares with a figure of 10% in August.
The evidence suggests the price revival is being driven by an acute shortage of properties, particularly family homes.
There is also clear evidence of a North-South divide, with prices in London and the South-East showing a surge while many parts of the North are still suffering falls.
Ian Perry, a spokesman for the institution, said: ‘A lack of supply is still underpinning the rise in house prices. Meanwhile, the level of inquiries from potential purchasers is increasing.
‘This imbalance between demand and supply suggests that house prices will move higher in the near term.’
The Rics report is regarded as a reliable early indicator of market trends, having given warning ahead of the property crash of the early Nineties. It also signalled price falls in the summer of 2007 while other major surveys only registered dec…