The UK housing market is improving more quickly than that of most other European countries, the latest European Housing Review from the Royal Institution of Chartered Surveyors (Rics) suggested.
According to the report, which was launched 2nd March in Brussels, Britain was one of only a few countries that saw signs of recovery in the property sector last year – along with Norway, Finland and Sweden.
Norway experienced the biggest rise in prices on the continent in 2009 – by 12 per cent.
Simon Rubinsohn, RICS chief economist, commented: “A combination of extraordinarily low interest rates and a raft of government measures have helped to put a floor under residential property markets in most European countries.”
However, he explained that many countries’ housing markets are still “continuing to labour”.
RICS was formed in 1868 and today boasts more than 100,000 qualified members and 50,000 students and trainees around the world.