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Average House To Cost £266,000 By End Of 2014

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STRONG economic recovery and growing consumer confidence will see homes increase in value by 3 per cent this year and another 7 per cent next year, experts said last night.

Industry insiders said an average home will be worth £266,708 by the end of next year.

Prices rose again in June according to the Office for National Statistics – the fourth consecutive monthly increase and the fastest rate since the peak of 2006.

It led economists to predict the long-awaited recovery is starting to kick in.

Across the UK, prices rose by 3.1 per cent year-on-year, with the average home now valued at £242,000.

The rapid rate of recovery has forced a recalculation of growth forecasts.

Prices are now expected to rise by 3 per cent, or £7,260, over the remainder of this year.

How exciting industry insiders sharing vital information that house prices are going to go up.

Living costs going up but then so is the value of everyone's house. Yipee!

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Richard Sexton of online chartered surveyors e.surv said: “Banks are lowering rates and increasing the range of mortgages on offer.

“House prices remain high, with each month bringing fresh rises, but banks are now more willing to lend to buyers with smaller pockets.

“They’ve had time to build capital buffers and restructure in answer to the demands of new banking legislation. Now they’ve emerged from the gloom, and are increasing mortgage lending once more. Returning confidence in the economy is affecting the amount of lending positively.”

He added: “The mortgage market is exploding.”

This was from 2 weeks ago in the Express. The mortgage market is "exploding".

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Seriously what is this 200 plus average value come from?

Land reg indications 160 something. Is it really rightmove asking price? In which case my used bog roll collection has just made me a millionaire (on paper of course).

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