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North sees sharp rise in house prices

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  • 21/10/2002
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Buoyancy continues to be maintained in the housing market, according to the Royal Institution of Cha...

Buoyancy continues to be maintained in the housing market, according to the Royal Institution of Chartered Surveyors (RICS) policy unit.

Its latest survey found house price inflation strengthened in the three months to September, following a slight easing in July and August. Half of those surveyed reported price increases in their areas in September while just 6% reported a drop.

The East Midlands, Yorkshire and Humberside saw the sharpest price rises, where 88% more surveyors reported price rises than falls, up from 73% in August.

Phillip Mills, surveyor with Norman F Brown in Bedale, North Yorkshire, said: ‘Demand has dropped slightly and the number of properties on the market has increased. Stock levels are low and we anticipate prices will continue to rise, albeit at a slower pace.’


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