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29/01/2010 UK house prices 'will stabilise' |
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Investors looking to consult a property lawyer over new housing purchases have been advised not to expect a repeat of the dramatic increases in values seen in the last decade.
Property service website iammoving.com has described pricing trends during the 2000s as an unsustainable "rollercoaster", a repeat of which would not benefit the market.
He highlighted figures from a recent housing market report from Halifax which showed that prices have risen by more than 100 per cent between the end of 1999 and the beginning of 2010.
This is despite values having fallen by 21 per cent during the final seven quarters of the decade.
Jon Brown, partner relationship manager at iammoving.com, said that these rises are unlikely to be repeated in the near future and instead forecast more stable, modest growth.
He said: "As our economy is repaired and confidence in lending in the UK increases, as reflected over the last few months in increased mortgage approvals, the demand for property will again grow."
Written by Anna Norton |
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