UK house prices will increase in 2009, the RICS said, reversing an earlier prediction for a drop of as much as 15%.

The average price of a home will be 'slightly higher' in the fourth quarter of 2009 than it was in the same period last year, RICS said in a statement in London today. Lower interest rates and the decline in house prices from their peak in 2007 have lured buyers back to the market, the RICS said.

bloomberg.com