11 Dec

House prices 'to grow up-to 2% in 2008'

House prices 'to grow up-to 2% in 2008'

UK house prices will rise between one and two per cent during 2008, Allied Surveyors predicts.

Robert Bryant-Pearson, chief executive of Allied Surveyors, said that growth will remain positive over the period but that it will not achieve the levels seen over the last year.

He explained: "There will be very little growth in house prices next year with adjustment in certain locations and types of property combined with a decline in the price of one and two bedroom apartments which are currently making up large percentages of city centre property types."

However, price falls are likely to affect smaller properties, Mr Bryant-Pearson predicted.

He said: "We expect poorer housing stock and former local authority housing to be the most vulnerable. Whilst some lenders are predicting little or no overall change in house prices for 2008, this masks the fact that there will be certain sectors that will see a decline whilst others such as well located family homes in the middle market will continue to enjoy healthy demand."
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