House prices could begin to rise by the end of 2009, it has been claimed. Royal Institution of Chartered Surveyors (Rics) chief economist Simon Rubinsohn explained the UK housing market could be set to turn around. "We are now in a position where prices may begin to stabilise as the year draws on," he said. "One of our best indicators from our monthly survey is the sales to stock ratio - and that is beginning to turn up." Mr Rubinsohn added it was difficult to predict whether prices would actually rise by the end of the year, but said it was possible. He stated it would depend on supply remaining as constrained as it currently is. His comments come after Lloyds Banking Group commercial mortgage director Stephen Noakes told the Sunday Times house prices may only fall by a further six per cent before stabilising. Mr Noakes suggested there is the potential for a surprise by the end of the year. The experts' claims suggest those who move house over the summer could see their properties become worth more than they paid for them. According to the latest Rics figures concerning March, new buyer enquiries grew for the fifth consecutive month leading to an increase in both newly-agreed sales and sales expectations.
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