Property prices 'set to rise'
Britons may wish to continue renting their home next year, after one sector commentator predicted the average house price would increase over the course of 2010.
Figures from the Land Registry have revealed that house prices are already showing signs of recovery following the property market slump last year.
Indeed, the average house price stood at £158,377 in September, following an increase of 0.9 per cent.
And Russell Jervis, managing director of haart, has predicted that house prices will rise by at least five per cent during 2010.
"If more sellers gain confidence in the New Year we should see levels rising, maybe not to previous levels, but [to] a constant housing market with steady growth," he added.
The Land Registry research also noted that the average property price in London increased by 1.3 per cent in September and stands at £314,954.
This may mean that people wish to look for flats to rent in Fulham or another part of the capital, as this could be a more affordable alternative to buying.
Written by Andy Britten
Published 2nd November, 2009
© 2009 Estates IT Limited
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Renting may be a more affordable option than buying next year, with property prices predicted to rise.