2 Nov

Expert predicts further property price rises

Expert predicts further property price rises

Property prices are likely to rise throughout 2010, according to one independent estate agent.

Russell Jervis, managing director of haart, is anticipating five per cent growth in property values throughout next year.

He added that the current trend - where demand for properties is outweighing supply - will keep house prices steady and avoid further drops before the end of 2009.

Commenting on sales volumes, which remain considerably lower in comparison to last year's figures, Mr Jervis was optimistic.

"If more sellers gain confidence in the new year we should see levels rising, maybe not to previous levels, but [to] a constant housing market with steady growth," he said.

Data released by the Land Registry at the end of October revealed that the average house price in England and Wales increased by 0.9 per cent in September, compared to the previous month.

The average property value now stands at £158,377. London saw a further 1.3 per cent rise in the price of properties for September, although compared to year-on-year figures values remain 3.2 per cent lower than 2008.

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