Monday, July 28, 2008
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HOUSE prices will soar by nearly a quarter over the next five years, it was predicted yesterday. A report published by the National Housing Federation shows that demand is growing but the supply of new housing has fallen dramatically. As a result, the impact of the credit crunch – with lenders reducing the supply of mortgages – will be out-stripped by the increasing demand for homes. The average house price is set to reach £275,000 by 2013.