Good news for property owners from the Halifax Index meant investor confidence grew in the market.
Shares in property portal Rightmove ( RMV .L) surged on Friday as investors looked past a fall in half-year revenue and instead focused on signs the housing market was coming back to life.
The half-year report showed revenue declined by 34% to £94.8m in the first six months of the year. Operating profit dropped 43% to £61.7m ($81m).
However, the stock jumped over 7% as chief executive Peter Brooks-Johnson flagged “record levels” of activity in the housing market since it reopened in mid-May.