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18/12/2009
Residential prices 'to go on rising' |
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Residential property prices will go on rising in 2010, it has been predicted.
Property investment firm Assetz said the market has been growing more strongly than the four successive months of price increases recorded by the Royal Institution of Chartered Surveyors.
Chief executive Stuart Law said the upward trend has lasted for more like seven months and will continue next year, despite losing some momentum because of future rises in interest rates and high unemployment.
However, he added: "The negative factors that can be foreseen are unlikely to outweigh the fundamentally competitive property in the UK [and] supply is far less than demand."
This will include the mortgage market picking up and those keen to take advantage of this may wish to see a property lawyer to set the wheels of transactions in motion.
In its own predictions for the market, the National Association of Estate Agents said prices are likely to be flat or even drop a little at first, before picking up later in the year, particularly once the uncertainty surrounding the upcoming general election has passed.
Written by Laurence Smith
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