UK house prices expected to keep rising over the next year

High cost: Souvenir sellers’ stalls are seen in central London. With soaring inflation, many homeowners are left wondering how this will affect them and their house prices. — AFP

LONDON: United Kingdom property surveyors expect house prices to keep growing over the next year despite a drop in new buyers because of a continuing lack of supply of homes to buy or rent.

The Royal Institution of Chartered Surveyors (RICS), whose members appraise properties up for sale, said a balance of 65% of those surveyed recorded price increases in June, down from a high of 78% in April.