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House prices 'to keep rising over next five years', says RICS

House prices in London and the south-east and east of England will continue to surge by five per cent a year for the next five years, according to the Royal Institute of Chartered Surveyors (Rics). Reporting an increase in demand for housing in December that it blamed in part on investors rushing to beat the introduction of the so-called "landlord tax", the organisation's latest survey revealed there were more buyers than sellers in the market for the 11th successive month, notes the Daily Mail. It adds this is unlikely to change soon and will keep price rises brisk. In London and the south-east and east of England - areas Rics' members already reckon are already either "expensive" or "very expensive" - this could keep price rises at five per cent a year up to 2020. There would be similar increases in the rest of the country, at 4.5 per cent, it added.

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