Price growth now stabilising

Published on: 16/08/2007

House prices showed clear signs of stabilising in July following months of strong growth, an analysis of the major UK indices has revealed.

The Assetz House Price Watch has reported that annual price growth dropped slightly to 10.1 per cent in July, down from 11.2 per cent in June.

But Assetz has said that this fall was more a sign of stabilisation rather than the beginning of a continued trend, with growth forecast to stand at around eight per cent towards the end of the year.

“House sales should now pick up as consumer confidence increases and inflation begins to stabilise annual price growth to around eight per cent by the autumn,” commented Assetz chief executive Stuart Lee.

“With no chance of any short or even medium term solution to the housing shortage, there is little cause for concern,” Mr Lee added.

The Centre for Economics and Business Research predicted last month that the average house price will be in excess of 460,000 by 2020.


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