House prices to rise for four years
Homeowners who have built a bespoke lean-to conservatory in the hope of making their property more attractive to prospective buyers may be buoyed by recent comments from What Mortgage.
The magazine feels that the UK housing market is set to enjoy a period of sustained price growth as it continues its recovery from the crash.
Such a change can be expected in the next few months, but the landscape should become clearer once the dust has settled from today's (May 6th) general election, editor Ben Wilkie predicted.
"If there are heavy cuts and lots of people end up losing their jobs or heavy tax rises meaning a lot of people have less disposable income, then I think the market will contract a little bit, but I think generally we are on an upwards trend," he said.
Property prices are likely to rise by 5.3, 3.4, nine and four per cent respectively over the next four years, according to recent predictions from the Centre for Economics and Business Research.
Such a change will be accompanied by a fall in mortgage rates until the beginning of 2011, Mr Wilkie added.
Posted by Paul Steel
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