Annual house price increase of 5% forecast
Property professionals
2nd November 2009
House prices will rise over the next year by at least five per cent, it has been predicted.
According to data from the Land Registry, property values are starting to stabilise and a property expert has forecast minimum growth of one-twentieth during 2010.
Commenting on the figures, haart managing director Russell Jervis suggested that it is "unlikely" that prices will fall over the coming months, with sales volumes expected to rise in line with growing applicant demand for new homes in many boroughs.
"If more sellers gain confidence in the New Year we should see levels rising, maybe not to previous levels, but [to] a constant housing market with steady growth," he declared, something which may interest insurance for business customers.
During September this year, a Land Registry report revealed a 0.9 per cent hike in house prices in England and Wales to an average of £158,377, although values had dropped year-on-year by 5.6 per cent.
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