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UK August Home Price Sentiment Highest Since May 2007 - RICS

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Sentiment in Great Britain's housing market improved in August for the first time in two years, according to the latest survey results from the Royal institution of Chartered Surveyors (RICS).

The RICS survey showed a 10.7 percent rise in the proportion of surveyors reporting a rise in house prices compared to the proportion reporting a decline. It was the highest balance recorded since May 2007.

The figure compares to a balance of minus-5.7 in July, which indicated more surveyors expected price declines than increases.

The July RICS balance was previously reported at minus 8.1 percent.

The RICS survey has not shown a positive balance since July 2007's reading of 8.3 percent.

(Market News Provided by RTTNews)

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