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The UK public remains optimistic about the housing market in 2007, with almost 90% believing that house prices will rise, and only 2% believing there will be a fall of between 1 and 5% according to a recent survey.
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2007 UK housing market predictions |
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Organisation |
Prediction |
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Nationwide |
7% |
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Halifax |
4% |
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Hometrack |
4% |
The poll, carried out by The Homebuyer Show, suggests that the general public is even more positive about the market than some of the UK’s top housing experts’ including Halifax and Hometrack, who are predicting a rise of only 4%. One third believed there will be an increase of over 5%, a significant rise over last year’s findings. For the first time nobody felt that there would be a fall of more than 5%
Of those polled 87% stated that they were planning on buying a property in the next 12 months, with three quarters planning on buying a buy-to-let property. The survey also revealed that 25% intended on buying a buy to let property overseas.
Nick Clark, managing director of The Homebuyer Show, commented: “During 2006 we saw house prices continue to rise, out performing almost every prediction made by the housing experts last year. This year the survey has revealed that the public is even more optimistic than the majority of the experts, demonstrating that for many would be buyers this is still an opportune time for investment.”
The Homebuyer Show, to be held form 2 March to 4 March at the ExCeL Centre, and now in its 16th year, will feature the largest selection of property experts under one roof for all stages of the property ladder, from first time buyers to seasoned investors. Over 200 exhibitors will be in attendance, including mortgage brokers, estate agents, house builders, financial experts and property investment clubs.
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