Property News - Prices of new houses and new flats expected to rise
Almost four in five homeowners expect residential property prices, including new build homes, to appreciate in the next five years while only 11% believe prices are set to decline over the same period according to research by Your Move estate agents.
A total of 60% of homeowners believe house prices will recover in the next two years, but the size of this increase has fallen to 1.8%, down from 3.2% in August and significantly less than the prediction of an increase of 5.4% a year ago. Optimism has also waned in the longer-term, as homeowners currently expect property prices to grow by only 6.9% in the next five years, down from a predicted 10.6% a year ago.
If prices change as homeowners expect, they will increase by on average £4,000 by spring 2013 and £15,360 in 2016 according to latest figures from the LSL / Acadametrics house price index.
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