A BUOYANT housing market, with a rapid turnover of sales, has led to a shortage of properties for buyers across the region. The level of stock available is at its lowest since early 2000, according to the latest The Royal Institution of Chartered Surveyors (RICS) survey.

According to RICS, the market has bounced back strongly since the atrocities of September 11, meaning further price rises are likely. RICS South East regional director, Irene Woodward said: "The vitality of the market shows no sign of waning. Demand is outstripping supply across the south east, helping to sustain price rises at their current rate, although the pace of increase has begun to settle.

"With spring - traditionally the busiest time of the year - still to come, a continued shortage of properties will have a significant impact on the market and could have a knock-on effect on prices as a result."

House price inflation is now well above the low of last November and its highest since last July.