Property news from PWR Letting Agents Nottingham and Mansfield

A lack of supply is still underpinning the house price recovery, according to the results of the latest UK housing market survey, published today.

Significantly, the headline RICS house price balance recorded the highest figure since the onset of the credit crunch. The net balance of chartered surveyors reporting rises rather than falls in house prices reached a positive reading of 21.5% in September, up from 9.9% in August -- the highest result since May 2007 when the net balance was 25%.

However, last month's optimism that vendors were starting to return to the market has proved a little premature. A net balance of only 4% of surveyors reported that new instructions had increased in September, compared to 12% in August.