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Average UK home prices set to pass 2007 peak next year

Posted on 04 April 2013

The average home in the UK will cost £227,000 in 2014, surpassing the pre-crisis peak for the first time, and reach £267,000 by 2018, according to a new forecast. Also, the Help to Buy scheme announced recently by the UK government could initially raise prices before increasing housing supply, says the forecast from the Centre for Economics and Business Research (CEBR).
CEBR also predicts the average home price will be £222,000 this year, 1.4% higher than in 2012, but just under the peak achieved immediately prior to the financial crisis. In the short term, lacklustre wage growth, domestic banks’ ongoing recapitalisation efforts and Eurozone financial unrest are expected to subdue house price growth this year and next……………………………………….Full Article: Source


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