Property price rises of 5% from 2012
Property prices rises of 5% from 2012
Monday 7th December 2009A property consultancy has predicted that an uncertain 2010 for the property market will lead to a better medium term, with a one to three per cent increase in house prices.
"Growth beyond this range is unlikely due to ongoing lender caution, although long-term this will be a positive for the overall health of the residential market as earnings catch up with prices," said Catherine Penman, head of research at property consultancy, Carter Jonas.
Penman predicted growth from 2012-2015 should return to an annual level of circa five per cent.
Growth next year will be strongest in prime central London and ripple out quickly to the south east and prime centres, such as Oxford, Cambridge, Winchester, Bath and Harrogate, she said.
"However, even the most prime markets are exposed by potential interest rate increases and rising unemployment," she said.
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