28 Jul

Increased demand for housing 'will push prices up'

Increased demand for housing 'will push prices up'

A rise in the demand for housing will have an effect of the price of property in England, it has been stated.

According to a new report from the National Housing Federation (NHF), the current drop in the value of property is a blip in an increasingly upward trend as a falling supply of houses is matched with increasing demand.

The Home Truths 2008 study has found that house prices will continue to fall over the next year, slipping a further 2.1 per cent.

However, by 2013 the property market will be back on track with house prices averaging to £274,700 - a rise of 25 per cent.

Chief executive of the NHF David Orr remarked: "As soon as the economic outlook improves, house prices will resume their previous upward trajectory."

Houses in market towns command higher than average house prices, the latest Halifax Market Town Review revealed last week, with Beaconsfield in Buckinghamshire named as the most expensive English market town.ADNFCR-1222-ID-18703942-ADNFCR

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