House prices surge at fastest rate since pre-crisis peak

A new report has stated that house prices in the UK are rising at their fastest pace since pre-crisis peak.

11:10 14 August 2013

Official figures have revealed that more homebuyers are returning to the market and their number has been the biggest for the last four years.  July has registered the biggest price increase after November 2006 as confirmed by the Royal Institution of Chartered Surveyors (RICS).

London still sees the biggest rises. While the West Midlands and north-east England have had their highest levels of interest from buyers for the past 14 years.

Peter Bolton King from RICS said: “Growth in buyer numbers and prices have been happening in some parts of the country since the beginning of the year.”

Adding: “But this is the first time that everywhere has experienced some improvement.”

Meanwhile, the Council of Mortgage Lenders affirmed these figures. It said that lending to first-time buyers is at its highest level since 2007 when financial crisis took place.