House prices are bouncing back according to a Royal Institute of Chartered Surveyors’ (RICS) survey. The RICS survey reported that falls in house prices eased for the third successive month. The survey also found that the number of properties coming onto the market rose at a pace not seen since January 2003. This has led to the stock of unsold properties reaching its highest level since March 2003. Milan Khatri, chief economist at RICS, said: “The market has reached a trough, and I don’t think we’re going to see any significant decline occurring now. But we are not going to see any renewed pick up in the market or significant increase in sales activity as long as an interest rate rise remains a threat.” (Times, FT)