Property prices 'will continue to rise'

Property prices 'will continue to rise' Property prices will continue increasing in the UK in 2010, one sector commentator has asserted.

Recent research by the Royal Institution of Chartered Surveyors revealed house prices have risen for the fourth month in a row.

It is believed that a lack of supply caused by not enough new housing and fewer people opting to sell their homes has pushed up prices, as demand is growing from buyers.

Commenting on the news, Stuart Law chief executive at Assetz, said the property marker has been experiencing growth for around the last seven months and that has been consistent each month.

"The negative factors that can be foreseen are unlikely to outweigh the fundamentally competitive property in the UK [and] supply is far less than demand," he added.

For these reasons, Mr Law predicted house prices would continue to rise in 2010.

In light of this, Britons may wish to choose flats to rent in Eltham or another part of London as rent prices tend to be more stable than purchasing a home in the same area, where prices are typically higher than across the rest of the UK.

Written by Chris Price