British house prices increased again in February but the current lockdown restrictions weighed on the sales market activity, the Residential Market Survey from the Royal Institution of Chartered Surveyors, or RICS, showed on Thursday.

The house price balance rose to 52 percent in February from 49 percent in the previous month. Further, twelve month price expectations picked up, with the net balance climbing to +46 percent from +30 percent in January.

The net balance for new buyer enquiries came in at -9 percent in February versus -29 percent in January.

Meanwhile, new instructions also fell for a second month in succession, evidenced by a net balance of -29 percent of contributors reporting a decline compared to -40 percent in January.

Looking ahead, near term sales expectations moved into marginally positive territory at +6 percent, marking the strongest reading for this series since October last year.

The material has been provided by InstaForex Company – www.instaforex.com

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