You are here: Home - Uncategorized -

House prices will be ‘up £1,000 a month’ in 2007

0
Written by:
29/01/2007

House prices will go up £1,000 a month throughout 2007, according to the latest projections from the Centre for Economics and Business Research (CEBR).

The CEBR said that it saw no evidence that higher interest rates will change the desire of homebuyers to make a UK investment in property and that as a result prices will not be adversely affected. It told the ‘Observer’ newspaper that it expected house prices to rise 7.6% over the year.

Slower growth is expected in 2008 and 2009, before picking up again in 2010, but the CEBR certainly does not see a ‘correction’ (or decrease) in prices of between 15% and 20% that some analysts have predicted.

John Ward, one of the report’s authors, said: “The underlying fundamentals of the housing market – the main arena for UK investment for many people – continue to support prices.

“Even though interest rates may act as a dampener on the market, people are spending considerably less of their incomes on mortgages than in the early ’90s. Furthermore, in many parts of the country, supplies of housing stock remain short.”

The average house price was £187,000 now and was likely to reach £225,000 by 2010, the CEBR said.

Recent research into the way people make their UK investment in property showed that Northern Ireland recorded the biggest gains last year, with London and the South East also showing strong growth, partly as a result of large City bonuses being paid.

 

 

 

 

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

YourMoney.com Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
Branson stakes his chips on Macau casino

UK businessman Richard Branson is reported to be close to finalising a deal to construct and run a £1.5bn casino...

Close