HOUSE prices in the South East have risen at the fastest pace in more than four years after the August interest rate increase, according to the Royal Institution of Chartered Surveyors (RICS).

In RICS' latest housing market survey, estate agents in the region report that the South East is still leading the house price charge, boosted by a booming City economy.

Trevor Hines, RICS South East regional director, said: "Surveyors are still confident that the housing market will remain buoyant.

"An assessment needs to be made of the impact of higher interest rates on spending in the high street over the key Christmas period and the pulse of the business sector."