The net balance of chartered surveyors who reported a rise rather than a drop in property prices increased ten per cent month-on-month in September, according to new research.

A report by the Royal Institution of Chartered Surveyors (Rics) found that the balance was 22 per cent in September, which was the highest reading since May 2007 when a 25 per cent figure was recorded.

Chartered surveyors in London and the south-east were the most likely to have indicated a rise in house prices, the study showed.

Rics spokesperson Ian Perry said: "A lack of supply is still underpinning the rise in house prices, with new instructions to estate agents only edging up very gradually."

He added that the level of enquiries from potential property purchasers increased in September.

Meanwhile, both Nationwide Building Society and Halifax have reported monthly house price rises every between July and September.

Written by Claire Doyle

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