House prices on the rise in North West, says RICS

House prices continued to rise in the region in October, according to the latest Royal Institute of Chartered Surveyors UK Housing Market Survey.

The net balance of surveyors in the region reporting a rise rather than falls in house prices reached 8% in October, up from 3% in September.

The net balance of surveyors reporting an increase rather than a decrease in new buyer enquiries in the region rose to 34% in October compared to 13% the previous month.

The survey also suggest vendors in the region are returning to the market, although not at as high a pace as seen in September. A net balance of 33% of surveyors in the North West reported that they had seen an increase in new instructions to sell in October, compared to 39% in September.

Transaction levels in the region continued to rise with sales per surveyor rising to 19 over the past three months, from 14 in September.