House prices rose for the third month in a row during January as the market continued to show signs of strengthening, new figures out today have revealed.

The figures come from the latest housing market survey from the Royal Institution of Chartered Surveyors which said 9% more chartered surveyor estate agents confirmed a rise in prices than a fall for the three months to January, compared to 8% in December.

Buyer enquiries have increased for the eighth consecutive month, the longest continual increase since the survey began in 1978. Completed sales are up by 15% compared to this time last year. This heightened activity is driving price rises, though there are no signs that the market is returning to the boom conditions between 1997 and 2002.

Overall stocks of property on chartered surveyor estate agents’ books fell by 2% over the last three months and are at a 15 month low, despite an increase of new property placed on the market by sellers.

Consumer confidence has improved and mortgage interest rates have been heading down. However, recent weaknesses in the labour market remain a concern, as its strengths have been an important factor in lifting housing market activity, point out the surveyors.

Price rises are being reported across the UK (with the exception of the Midlands) and are strongest in London and Scotland. The London market is still being bolstered by big City bonuses, with premium level buyers spilling into the markets in Southern England, which are showing renewed life.

RICS spokesperson Ian Perry says: "After months of struggling, the housing market is picking up. The current dynamics are favourable to sellers, as the amount of property available to buyers remains limited."

"Reasonably priced properties are selling well. December and January are traditionally quiet months so the spring, when more people look to move, appears promising."