The index for UK house prices rose to its highest in six months in September, to -15 points from -18 in August, according to the Royal Institute of Chartered Surveyors (RICS).

The consensus estimate had been for a further drop to -20.

That as measures to boost credit prompted real-estate agents to turn less pessimistic about the outlook. Thus, a gauge of price expectations included in the survey also climbed to its highest since March.

Similarly, a measure of sales expectations increased to its highest level since May 2010.

Commenting on the results of the survey, RICS Director Peter Bolton said: "The housing market was relatively flat during September, but surveyors are optimistic that the run-in to Christmas could see an increase in activity (...) Despite this, problems still exist and more needs to be done to get the market moving. Although the Funding for Lending Scheme appears to be improving mortgage availability, those at the very bottom of the housing ladder are still struggling."

For their part, economists at Barclays Research expressed the following opinion: "The modest improvement follows a 5 point increase in August, and suggests that the soft patch following the expiry of a tax holiday for first time buyers in March may be passing."

AB

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