The Royal Institution of Chartered Surveyors' (RICS) released its house price data for the U.K. on Thursday. The monthly house price balance increased to 49% in October from 44% in September. The increase was driven by higher demand and a shortage of properties.
"It is hard to get away from the issue of supply when it comes to the current state of the housing market. The legacy of the drop in new build following the onset of the global financial crisis is now really hitting home, with both the sales and letting markets continuing to show demand outstripping supply on a month by month basis," RICS Chief Economist, Simon Rubinsohn, said.