3 Jul

Firm predicts future house price rises

Firm predicts future house price rises

The British public will soon be keen to buy houses again, according to one firm.

In the opinion of MyMortgageDirect, there is only so long people will hold off making a property purchase and this will mean slight house price rises in the future.

If there is a price dip in the future, this will only be the market trying to find "its level" and this is unlikely to be anything to worry about, the company furthers.

Discussing the issue, Catherine Hearnden, director at MyMortgageDirect, explained that this is unlikely to make a difference to first-time buyers as they are more likely to put off buying a house because of mortgage costs.

She continued: "In any sort of economic crisis, whether it is to do with house prices, or property, everything will reach a bottom and recover naturally."

The Rightmove House Price Index shows that the average asking price for a home is 5.5 per cent lower than it was in 2008.

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