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Surveyors report rising house prices

House prices in Britain grew for the 18th month in a row during April, a poll of surveyors has shown.According to the Royal Institute of Chartered Surveyors (Rics), the country's housing market is in "rude health".The institute's monthly report found that 28.9 per cent more surveyors reported a rise rather than a fall in house prices, compared to 26.9 per cent in March.Today's increase comes ahead of the introduction of the government's home information packs (Hips) at the beginning of next month."The fear of paying the upfront buying costs of Hips has pushed more property onto the market," explained Rics spokesman Ian Perry. "This will continue throughout May but conditions should tighten if Hips goes ahead on June 1st as sellers withdraw from the market."April's house price increases was driven by "renewed momentum" in London, the south-east of England and East Anglia, Mr Perry said."Last week's interest rate hike may not be the last as the housing market has not slowed as quickly as expected given the initial round of rate rises," he continued. "With prices buoyant and conditions still tight another rate rise later in the summer looks likely."

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