Tuesday, September 19, 2006

RICS property forecast for 2007

residential e briefing

Their conclusion is that it is likely that 1 or 2, 0.25% interest rate increases, in the next few months, will result in a fall of house price inflation to 3% next year. No forecast is given for 2008 onwards.

Posted by me @ 08:55 PM (628 views)
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3 thoughts on “RICS property forecast for 2007

  • Thats still a 3% rise, although with the real rate of inflation running at 6%+++ you could argue that would be a fall in real terms.

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  • little professor says:

    http://www.rics.org/Property/Residentialproperty/Residentialpropertymarket/pr_hms0806.htm – RICS latest property survey:

    House prices rose for the fifth consecutive month in August, up at the fastest pace since May 2004 says RICS’ UK housing market survey published today, (14 September 2006).

    RICS estate agents reported that price rises are being driven by a combination of would-be buyers returning to the market and limited availability of new property coming onto the market.

    RICS spokesman Ian Perry said, “Last week’s interest rate freeze will mean that the housing market will maintain its current positive momentum. Would-be buyers have been encouraged by a strong economic performance, but additional rises in interest rates before the end of the year, could deter buyers as more pressure builds on personal finances. ”

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  • Is there really a “limited availability of new property coming onto the market” ? Is there a housing shortage or is this just another myth (and a strong one that won’t be affected by interest rate hikes) by the VIs? Why don’t you ever read about the number of people dying, leaving the country – and how this affects the housing market?? In Putney, where I live, there seems no shortage of empty new flats waiting for buyers…going at an average of £340K.

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