Property prices 'to rise £38,000 by 2014'

Posted: 04 Aug 2009 11:08:10 GMT

House prices will be £38,000 higher in 2014, compared to the level predicted for the end of this year.

That is the view of the National Housing Federation (NHF), which released research this week that suggested property prices will drop this year and next, before gradually building up again in the following four years.

Estimates from the group indicate that the average cost of housing in the UK will stand at £189,800 at the end of 2009, but this will drop 4.6 per cent next year, before stabilising in 2011 with a 1.1 per cent boost in value.

According to the NHF, the following three years will see property prices inflate by 7.5, 8.4 and 6.8 per cent respectively.

Last week, Nationwide Building Society published its monthly housing study, which indicated that the average cost of a home in July was £158,871.


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