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House Prices Forecast To Rise 25% Over Next Five Years

The National Housing Federation (NHF) has given home owners a little bit of light relief with a forecast that house prices will grow by 25% over the next 5 years. However, the bad news is that there is still further to fall over the next couple of years with 2010 seen as a turning point (something which other groups have also flagged as the turn point in the market). So what is happening?

The NHF is of the opinion that the markets will fall further because transactions have dried up and funding is a big issue for many. However, once the economy starts to turn they expect a shortage of property to see prices pushed substantially higher in a kind of catch up period. As a consequence the NHF also believes the UK will not see a 1990s style property crash purely because of the shortage of housing compared to those looking to buy.

This is perhaps one of the only remotely upbeat surveys for some time and one which no doubt many will grab hold of as evidence that the market is turning. The UK has for many years ran a policy of ensuring that housing demand always exceeds the number of new builds, although the gap is not so acute in times of financial distress.

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