4 Aug

Property market 'to grow in 2009'

Property market 'to grow in 2009'

The property market looks set to experience a growth of between five and ten per cent this year, according to one property adviser.

Stuart Law, chief executive of property investment adviser Assetz, said that a new house price study by Nationwide - in which it is claimed that prices will end the year slightly higher than where they started - is accurate.

"Our current forecast is for five to ten per cent growth for 2009 as a whole," he said.

"There are many good reasons why it will happen."

Mr Law added that the company was 80 per cent confident that growth will end 2009 in this range and 90 per cent positive that it will be positive by the end of the year.

In related news, Chesterton Humberts' Poll of Polls revealed last week that the average property in England and Wales cost £163,352 in June, which constituted a rise of 0.1 per cent when compared to the month before and the first monthly increase since April 2008.

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