House prices ‘will rise until 2014’

Posted 02/08/2010

People thinking of using a residential conveying solicitor in the sale of their home could be pleased to hear that a predicted dip in house price rises has been denounced by one group of experts.

The Centre for Economics and Business Research (CEBR) claimed that the value of properties in the UK will continue to increase by around four per cent this year and even more in the period up to 2014.

According to the organisation, the figures have come about thanks to a shortage of house supplies in Britain, which will see up to 5.4 per cent increases in prices over the next four years.

A spokesperson for the CEBR said: ‘It is unfortunate, but hardly surprising, that many commentators are currently purporting that the minor correction in house prices over recent months is a prelude to an even steeper decline.’

Recent figures from Rightmove showed that house prices rose 5.0 per cent year-on-year in June, compared to the 4.3 per cent increase seen in the 12 months between May 2009 and 2010.