UK house prices increase in the first month of 2011 on lower supply of properties on the market according to the Royal Institute of Chartered Surveyors.

According to RICS the index gauging the responses from real-estate agents on properties prices, those saying prices fell exceeded those reporting a rise in prices by 31 percentage, improving from minus 39 in December and the highest recorded since July.

The gauge of sales per surveyor in the three months through January dropped to 14.6 from 15.2, recording the lowest since June 2009 as Britons remain affected by the tight economic conditions and the lingering high joblessness. On the other hand, the measure gauging new enquires advanced to 7 from -12 in December, while the gauge for number of new property listings increased to -3 from -14.