Cebr: house price boom in 2010

The economics analysts said there will be a 20pc dip in new home completions this year. And, with completions tipped to remain below government targets for the next five years, this will fuel a medium term supply shortfall and consequent upwards price pressures. The conclusions were reached in the cebr's latest consumer and housing prospects report, which sees average prices falling by 14pc, peak to trough, from end-2007 to mid-2009. This will be followed by a recovery, such that the five year rate of price growth to 2012 will be 15pc. Richard Snook, an economist at the cebr and on...