UK housing market continues recovery

<p>UK house prices are still on the rise.</p>

The housing market in the UK continued to show signs of recovery in June, according to a new report from the Royal Institution of Chartered Surveyors (Rics).

In the latest Residential Market Survey, the organisation stated that 21 per cent more chartered surveyors reported prices rose rather than fell in June, which meant that this was the strongest month for house prices since January 2010.

With the state of the housing market usually seen to be a key indicator for the health of the economy, this could indicate growth will be stronger in the second quarter of the year than the 0.3 per cent expansion recorded between January and March.

The outlook for future prices was also found by Rics to be strong, with 23 per cent more respondents to its study reporting that prices will rise rather than fall over the coming three months.

Global residential director at Rics Peter Bolton King said: "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."

The Rics report comes shortly after data from Halifax revealed that house prices in the three months to June were 2.1 per cent higher than in the previous quarter.

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