London’s housing market is set for a quicker recovery than the rest of the UK, according to the latest survey by the RICS.
Estate agents expect house prices in the capital to rise for the first time in nearly two years, the research shows.
London had been expected to be significantly hit by the recession given its status as Britain’s centre for financial services, but it has so far escaped more lightly than other regions such as the Midlands and north-east.
The survey by RICS shows that a balance of 25% of estate agents expects prices to increase in London. Scotland is the only other location where prices are expected to rise.
Financial Times, The Times