UK House Prices Post First Growth in Two Years, RICS Says.

The Royal Institution of Chartered Surveyors (RICS) has reported that UK house prices have experienced their first growth in almost two years. This increase is attributed to hopes that the Bank of England will continue to lower borrowing costs. The RICS survey also revealed that buyer demand and sales have both increased, making home ownership more affordable. Additionally, a separate Bank of England survey showed that banks expect demand for mortgages to rise, leading to a more optimistic outlook for the housing market. However, the supply of rental properties is declining, which is expected to result in increased rent prices. [Extracted from the article]