The October 2015 RICS Residential Market Survey shows price momentum remains firm, with the headline price balance coming in at +49% compared with +44% in September.

Also, due to the ongoing shortage of new instructions coming on to the sales market, demand continues to outpace supply across most parts of the UK. In fact, the supply of new instructions coming to the market decreased for the ninth month in succession, with a net balance of +10% of respondents reporting a fall; instructions have only increased in one month since the middle of 2014.

The continuing demand supply imbalance is causing price pressures to build across all areas, with respondents in all parts of the country reporting rising prices for the third consecutive month. East Anglia has consistently seen the firmest price momentum during this period and a net balance of +91% of contributors reported prices to have risen during October.

Looking ahead, respondents in all parts expect prices to continue rising at both the three and twelve month time horizons. Once again, the outlook is particularly buoyant for East Anglia with a net balance of 97% of respondents expecting prices to rise over the year to come.