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Home prices are on the way back past pre-crisis peak, says forecast

March 04, 2013  |   Uncategorized   |     |   0 Comment

Quarterly Housing Prospects report predicts that average home price will climb to £219,000 this year.

House prices will reach and surpass their pre-crisis peak next year. The claim is published in a report today by economic forecaster CEBR which says a typical house price will top £223,000 in 2014.

The quarterly Housing Prospects report also predicts that the average home price – based on figures published by the Office of National Statistics – will climb to £219,000 this year, 0.8 per cent higher than in 2012.

Looking five years ahead, a typical UK home will cost £261,000 by 2018, the report says, some 19.1 per cent higher than this year.

Daniel Solomon, CEBR economist, said: “UK property prices will be driven to pass their pre-crisis peak for the first time by fundamentals such as a return to modest economic growth and restricted housing supply increases.”


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