House prices 'to rise in 2010'

Posted: 18 Dec 2009 11:57:55 GMT

House prices are likely to continue rising in 2010, according to one property investment adviser.

Stuart Law, chief executive at Assetz, says that he expects to see growth in the housing market next year despite certain negative factors that are present.

He states that while he is not ignoring issues such as unemployment and rising interest rates, he still expects prices to rise.

"Unemployment has stopped growing significantly so that will probably be a factor … meanwhile stable mortgage rates are falling so mortgages will continue to get cheaper," Mr Law adds.

His comments come in response to recent statistics from the Royal Institute of Chartered Surveyors, which revealed that the average UK house price is continuing to rise.

According to property website Zoopla, the average British home is now worth £205, 591 - a figure which is up by £1,517 compared to a year ago. This is in comparison to 2008 figures, when property values fell by £31,335.

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