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U.K. House Prices To Rise 2% In 2013: RICS

U.K. house prices are likely to rise 2 percent next year, and sales will grow to the highest since the market crashed in 2007, the Royal Institute of Chartered Surveyors' said in a report on Friday.

Home sales is forecast to climb by over 3 percent to 960,000 in 2013 from 930,000 this year. It estimate rents to increase by about 4 percent next year

"Tentative signs of recovery in the sales market should not blind us to the very real problems that still exist," said Simon Rubinsohn, RICS chief economist.

"Even with the Funding for Lending scheme and some other government policies beginning to be felt in the mortgage market, many first-time buyers will continue to find it difficult to secure a sufficiently large loan to take an initial step on the housing market," Rubinsohn added.

by RTTNews Staff Writer

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