UK Housing Prices Jump in June

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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