Private landlords assessing the state of the property sector before adding to their portfolios would have seen recent reports show that house prices increased in May - and now the Royal Institution of Chartered Surveyors (Rics) has said this reflects a more stable market.

In a statement released after Nationwide Building Society's latest housing survey, which indicated that the average cost of a home last month was £154,016, the chartered surveyor group noted that the sector is showing signs of improvement.

Rics suggested the monthly leap in average values - it was up 1.2 per cent on April's figure of £151,861 - was in line with the organisation's sales-to-stock ratio findings.

This, it indicated, is "historically a good lead indicator of turning points in house price inflation".

However, both Nationwide and Rics think it is too soon to say whether the market is in complete recovery mode.

Written by Claire Doyle

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