British house prices are rising at their fastest pace in more than three years, helped by initiatives to reduce borrowing costs, a survey indicated on Tuesday.
The Royal Institution of Chartered Surveyors’ seasonally adjusted house price balance jumped to 21 in June from 5 in May. That was the best reading since January 2010 and the biggest improvement in a single month since 2009.
The balance turned positive in April having been in negative territory for most of the past three years.
“After what has seemed like a very long wait we are finally starting to see what looks like the beginning of a recovery in the housing market,” said Peter Bolton King, RICS global residential director.
via CNBC
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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