CHARTERED surveyors are predicting a rise in house prices for the first time in 18 months.
The latest figures from the Royal Institution of Chartered Surveyors (RICS) show that the number of surveyors reporting price falls for last month dropped again, to 21 per cent, down from 26 per cent in August.
Although the increase in buyer interest is modest, the RICS said it pointed to a gradual rise in demand, helped by August's interest rate cut.
New buyer inquiries for last month show a further increase, up for the fourth consecutive month.
Buyers continue to maintain the upper hand in the market, as levels of unsold property remain high, giving buyers more choice and room to negotiate on prices.
However, increasing demand and a possibility of further interest rate cuts have led surveyors to expect house prices to rise marginally by the end of the year.
This turnaround in confidence adds to evidence pointing to a stabilising of the market.
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