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RICS: Larger properties driving house price increase - 16/05/2006


The latest increase in house prices is being driven mainly by large and mid-range properties, reveals a study by the Royal Institution of Chartered Surveyors (RICS).

Houses with three or four bedrooms are generally priced higher than flats, as a shortage of properties and increased buyer demand pushes up house price inflation.

The number of properties available to buy has decreased by ten per cent since August 2004 while the rise in buyer enquiries in April sees the eleventh consecutive increase.

The RICS says that the increase in prices of large houses is a sign of buyers' healthy finances.

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