House prices to rise by a quarter, says report

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House prices to rise by a quarter, says report

Tue 29th Jul 2008

The average price of a house in England will rise by 25 per cent to £274,700 by 2013, according to a report by the National Housing Federation.

Improved longevity, marrying later and divorce are all increasing the demand for homes.

The report predicts a fall in house prices in 2009 and stability in 2010.
After that, a fast increase is predicted in 2011.

Only 75 per cent of the necessary level of new housing will be built each year, according to the report.

David Orr, chief executive of the federation, said: "As soon as the economic outlook improves, house prices will resume their previous upward trajectory."

House prices fell for the tenth consecutive month in June, according to figures from the Land Registry.

Its data found that house prices in England and Wales rose by 0.1 per cent in the last 12 months and dropped by one per cent in June.
This makes the average property worth £180,781.

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