The RICS agent survey for October reports that house prices have risen once again.
Despite the plunges in the early part of the year, since the reversal in July 2009 the has been steady growth albeit within a quiet market.
Instructions have risen as vendors return to the market and this steady increase in supply should see the rises kept to modest levels in the near future as the demand and supply move closer together. Once again London sees the biggest gains but the rest of the UK also appears to be gaining confidence as home buyers return.
It seems that the low part of the market was seen around February so anyone making a transaction then can feel pleased with themselves for the time being. For now a mood of cautious optimism seems to be in the air.