HOUSE prices continued to edge up in May as the number of homes on the market soared following the Government’s decision to abolish home information packs, research showed today.

London and the South East continue to lead the house price recovery, with the North and NW also seeing prices rebound.

Around 22% more surveyors reported a rise in the cost of property than those who saw a fall during the month, up from 17% in April, according to the Royal Institution of Chartered Surveyors.

But more significantly, the number of surveyors who saw an increase in the number of homes being put up for sale nearly doubled during May. A balance of 21% more surveyors said they had seen a rise in instructions during the month, up from 11% in April.

Surveyors expect the trend to continue in the near term, with nearly three-quarters saying the decision to scrap controversial home information packs (Hips) will see more properties on the market.

Overall, the abolition of the packs is expected to boost the number of homes for sale by around 15%.

Estate agents had campaigned for HIPs to be scrapped, claiming the up-front cost was deterring people.