RICS contradicts reports of property deflation

The Royal Institute of Chartered Surveyors is forecasting strong demand for rental property next year, which is likely to provide support for continued house price inflation. The forecast contradicts yesterday's Hometrack monthly house price survey showing deflation in the more expensive parts of London and predicting a big fall in London house prices next year. RICS says demand for private rental property is being driven by the increasing number of people unable to get on the property ladder at current prices. Rents have fallen over the past three quarters, particularl...