UK towns in demand next year, says FindaProperty

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www.moneynews.co.uk > Housing market > UK towns in demand next year, says FindaProperty

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UK towns in demand next year, says FindaProperty

Britain's towns are set to see a rise in demand for property during next year, despite a predicted Bank of England base rate increase occurring in February.

According to FindaProperty, 2007 could be extremely prosperous for people living in coastal or university towns as well as areas that have up until now been viewed as unfashionable.

With the two base rate rises this year combining with a possible further hike early next year, the housing market is expected to cool as a result as mortgages become more expensive. However, short supply of property is forcing potential housebuyers to look further afield, with towns set to benefit.

Additionally, FindaProperty expects the regional divide to continue that saw London, the South East, Scotland and Northern Ireland recording higher house prices throughout this year.

Property website Firstrung reports the Halifax and Nationwide as predicting house price rises to continue in 2007 with the former forecasting a four per cent increase while the latter estimates between five and eight per cent.

Related News : Housing market

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