Homeowners should not put off selling in hopes of higher prices because their properties are likely to cost the same in three years' time, warns the Centre for Economics and Business Research.
Latest findings by the CEBR predict the UK property market is heading towards a ‘soft landing’, but deem the average UK house price will be no higher in 2007 than it is today. The Centre believes UK house price inflation will average 15.4% for 2004 and then fall to 3.5% in 2005. The next two years after that will actually see deflation of 1.5% and 2.3% respectively, the CEBR says, before the market recovers and experiences inflation of 2.6% in 2009. Regionally, house price inflation will be least buoyant in the North East, Scotland and Wales, with prices forecast to be 10% lower in...
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