6 Jul

Premium properties 'will drive the housing market recovery'

Premium properties 'will drive the housing market recovery'

It is likely that premium properties are going to drive the recovery of the housing market in the UK, according to one industry expert.

Robert Pritchard, director at Smiths Gore, believes that as time goes on, the gap between "smarter houses" and more ordinary homes will continue to widen.

As such, in the next year, he expects a two-tier market to emerge as competitively priced properties are unlikely to take a "quantum leap" forward in terms of cost.

Mr Pritchard explains that different types of property will always be popular at different times.

He says that "if you go back ten years ago, it was the small cottages that were driving the values. It just seems that right now what is driving values upwards are the smart country houses".

Hometrack recently revealed that the average property spent 9.4 weeks on the market in June, compared to 10.4 weeks in April.

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