2010 could see house prices rising

Posted: 17 Dec 2008 13:30:50 GMT

It has been widely agreed that the next 12 months is going to be an unpredictable time for the housing market, but a growing number of analysts are claiming that house prices will rise in 2010.

David Bexon, managing director of SmartNewHomes.com, has explained his view that 2009 will be home to just a five per cent decline in house prices, with 2010 seeing the first signs of house price rises - albeit single-digit figures.

"I expect overall house prices to continue declining at their current rate into early-to-mid 2009, with a total reduction of around five per cent from where we are now by the end of the year," he told Mortgage Introducer.

"However, I believe we will start to see some recovery by late 2009, which could lead to single figure price growth in 2010."

Such conservative forecasts may do much to raise interest in buying property, but homeowners trying to sell their homes sooner than 2010 may wish to put their property online in order to attract more buyers and perhaps offer a cheaper price by eliminating the need for an expensive estate agent.

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