House prices to keep growing at £1000 a month

House prices to keep growing at £1000 a month

Wednesday, January 31, 2007

Britain's housing market will continue to boom 2007, with average prices rising by £1,000 a month, a report by a leading think-tank suggests.

A typical property will see a cost increase of 7.6% during the year, the Centre for Economics and Business Research said, slightly below historical trends of 8%.

But the CEBR is expecting slower growth in 2008 and 2009, when the rates are expected to be just 1.5% and 3.9% respectively. And by the end of the decade, house price inflation is set to edge back up to 7.1%.

If the think tank’s predictions are borne out, the average price of a home in Britain will go up from £187,000 today to £225,000 in 2010. But the CEBR said the market was likely to see a slowdown towards the end of the year as the three interest-rate increases since last August start to take effect.

"The underlying fundamentals of the housing market continue to support prices," John Ward, one of the report's authors, said.

"Even though interest rates may act as a dampener on the market people are spending considerable less of their incomes on mortgages than in the early 1990s. Furthermore, in many parts of the country, shortages remain acute," he added.

CLICK HERE TO PRINT THIS PAGE

CLICK HERE FOR OUR FULL NEWS ARCHIVE

Get this news on your website !

If you have a website, whether it is a personal homepage or a fully fledged estate agent service, you can get our news headlines included on your site. Both these newsfeed services give you the option of having the full news content from TheMoveChannel.com - not just the articles that appear on country subdomains such as this one:

Premium service

For just £50 / month, you can now have your own customised news service on your website. With the XML-based service, articles actually appear on a page on your site, making this a sticky feature that won't result in your traffic leaving. You have control over the display format to show your choice of headlines, dates and short article introductions and can apply your own style sheet or control the display format with XSL sheets. Finally, you can also set your subject preferences so that your feed only displays articles which are relevant to your site audience.

Top News Stories:

Brits abroad have 'no regrets’
6/19/2008 - Expats who’ve escaped to sunnier climes seemingly have no regrets about leaving the UK…

Canny FTBs remain ‘undeterred’
6/19/2008 - A new survey has revealed that FTBs are increasingly entering the new homes market with confidence...

Londoners love ‘laid-back’ Italy
6/18/2008 - A survey has revealed that Londoners see Italy as the most desirable place to buy property...

Sponsored listings:


Worldwide	England	Northern Ireland	Scotland	Wales	London	Spain	France	Italy	USA	Investment


Privacy policy Terms of use Support Bookmark now! uk index						TheMoveChannel.com is a protected Trademark. Copyright © 2000 - 2008 On The Move Ltd. All rights reserved.