Commenting on data released today by the Bank of England (BoE), the Royal Institution for Chartered Surveyors (Rics) states that the housing market is to see its first annual rise for four years.

Commenting on data released today by the Bank of England (BoE), the Royal Institution for Chartered Surveyors (Rics) states that the housing market is to see its first annual rise for four years.

Mortgage data released by the BoE today shows that both net lending to individuals in November and the number of loans for house purchase were up on recent trends.

Net lending was up by £0.7 billion on October's figures and there were 2,000 more loans during November than in the previous month.

Rics states that this demonstrates "renewed interest" in the market. It also states that its own housing market survey reveals that the number of "would-be" buyers on the market is also increasing.

The institution adds that as interest rates are expected to fall in the first few months of 2006, it expects that current "firm market conditions will be maintained".