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Recovery in the south boosts average house prices, say RICS

House prices climbed during August, driven by a lack of supply in the market, the Royal Institution of Chartered Surveyors said today.

RICS reported that 11 per cent more surveyors had seen prices rise than the number that had recorded a fall.

The national average was boosted by growth in the south. Some 43 per cent more surveyors in London, and 39 per cent more in the South-east, reported price rises rather than falls during the month.

A report released yesterday by Ernst & Young, however, described the recent price recovery as a “false dawn”.