RTTNews reports that the Royal Institution of Chartered Surveyors said that UK house prices continued to increase while there was a general weaker trend in sales market at the start of the year.

A net balance of +50 percent of survey participants reported an increase in house prices during January, thereby signaling a significant degree of upward pressure on prices. However, this was down from +63 percent posted in December.

At the national level, net balance of +30 percent of respondents anticipate prices to increase over the year to come.

A net balance of -28 percent reported a decline in new buyer enquiries in January, ending a seven consecutive positive monthly readings.