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Rics: 'Lack of housing development' causing price rise

A lack of development in housing during the financial crisis is forcing house prices to rise across the UK, the Royal Institution for Chartered Surveyors (Rics) has said.

Rics' chief economist Simon Rubinsohn explained that housing supply is failing to meet demand, with its latest survey suggesting that buyer inquiries rose in every area of the UK except Wales in March.

Prof Becky Tunstall, director of the Centre for Housing Policy at the University of York, added that there was concern over the rate at which house prices are expected to grow.

First broadcast on BBC Radio 4's Today programme on Thursday 10 April.

  • 10 Apr 2014