House prices to rise by 3% in 2005 - consultant

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UK residential property values will continue to rise a fraction while the commercial market adding up to 10% in 2005, an international property consultant has predicted.

This follows the surprise news on Friday from Halifax, indicating house prices had increased 1.1% in December. While King Sturge forecasts good returns for buildings and industrial property, at an increase of 9.4% and 10.4% respectively, the property specialist also predicts growth of up to 3% for the residential sector. The firm believes preparations for the expansion of Self Invested Personal Pension schemes (SIPPs) in April 2006 will boost consumer confidence, along with an increase in stamp duty thresholds. It adds key to good performance of property values going forward is asset ...

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