House Prices Rise for First Time in Nearly 2 Years: Surveyors

House prices are seeing an increase for the first time after almost two years of decline, a surveyors’ report has revealed. The shift in the housing market was prompted by the recent decrease in mortgage interest rates. August saw the Bank of England (BoE) lower the interest rate from 5.25 to 5 percent, the first rate cut in more than four years. Easing inflationary pressures and expected further growth are boosting sales activity and buyer demand, according to the latest RICS Residential Survey. A higher number of surveyors—15 percent—noticed an improvement in buyer demand, while 1 percent of professionals reported prices rising rather than falling in August....