Warning of surge in house prices

Press Association
Updated
File photo dated 02/10/2012 of a general view of an estate agent's 'Sold' sign outside a property. House prices surged by 7.5% annually in December but fell back month-on-month for the first time in almost a year, Halifax has reported. PRESS ASSOCIATION Photo. Issue date: Wednesday January 8, 2014. The year-on-year increase was close to a 7.7% rise recorded in November, which was the highest annual lift seen in six years. See PA story ECONOMY House. Photo credit should read: Chris Ison/PA Wire

%VIRTUAL-SkimlinksPromo%House prices will continue surging by around 6% annually for the next five years unless more is done to tackle the "desperate need" for more homes, surveyors have warned.

The Royal Institution of Chartered Surveyors (Rics) warned that it is going to become even harder for people to even consider trying to get onto the property ladder unless more is done to address the lack of homes for would-be buyers to choose from.

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