House price inflation jumps to 2006 levels -RICS

(Reuters) - House prices are rising at their fastest pace in seven years, according to an industry survey on Tuesday which may add to concerns that government lending incentives are creating a new property bubble.

The Royal Institution of Chartered Surveyors' seasonally adjusted house price balance jumped to +36 in July from +21 in June and just +5 in May. That was the best reading since November 2006 and one of the sharpest improvements over a three-month period since the survey began in 1978.

The survey chimes with data from mortgage lenders showing returning confidence in the property market. Halifax last week reported annual house price inflation jumped to 4.6 percent in the three months to July and was likely to rise further in the coming months.

FTSE 100 remains firmly higher in midday trade....

USD Core Retail Sales m/m 0.5% 0.4% 0.1%

USD Retail Sales m/m 0.2% 0.2% 0.6%

USD Import Prices m/m 0.2% 0.9% -0.4%

USD Business Inventories m/m 0.0% 0.3% 0.1%

FTSE100 ends comfortably higher on mining strength