Housing market 'to remain strong into 2007'
Nov 13, 2006
British house prices are set to grow by six per cent in 2007, experts have predicted.
Property agent Knight Frank said that housing market activity was expected to remain strong into 2007, although house price growth would be slower than in 2006, with growth expected to stand at nine per cent by the end of this year.
House price growth would be led by Scotland and Northern Ireland, a report from the firm stated, while a second strong area would be centred on London, but stretch from Cornwall to East Anglia.
Equity-rich home buyers from London and the home counties would move into prime regional markets in 2007 and compete with local buyers, the firm predicted.
However, price growth would be constrained due to affordability issues, as it is increasingly difficult for first-time buyers to access the market in most parts of the UK.
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