Prices ‘will bounce back next year’

Yorkshire Post - Property - - PROPERTY -

HOUSE prices will sur­pass their pre-cri­sis peak next year, ac­cord­ing to eco­nomic fore­caster CEBR.

Its quar­terly Hous­ing Prospects report also pre­dicts that the av­er­age house price will climb 0.8 per cent this year and in five years time will rise by an­other 19.1 per cent.

Daniel Solomon, CEBR econ­o­mist, says: “UK prop­erty prices will be driven to pass their pre-cri­sis peak for the first time by fun­da­men­tals such as a re­turn to mod­est eco­nomic growth and re­stricted hous­ing sup­ply in­creases.”

He added that quan­ti­ta­tive eas­ing and the Government’s Fund­ing for Lend­ing Scheme, could also sup­port prop­erty prices.

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