PricedOut suggests house building could aid property prices

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PricedOut suggests house building could aid property prices

building programme.

This is the view of PricedOut spokesman Matt Griffith, who indicated the lack of housing is one of the two main factors that make the property market in the UK so volatile.

Mr Griffith said that the other problem is the lack of regulation imposed on the mortgage industry.

He claimed "a sensible government" would try to deal with these two issues, since the country has a fairly "unhealthy record" in both of these areas.

"The UK housing market has a strong record of behaving not too differently from a rollercoaster," added the PricedOut representative.

According to the Centre for Economics and Business Research, house prices are set to fall by 1.7 per cent in 2011 compared with the previous year.

In 2010, the value of properties in the UK recorded year-on-year growth of 6.4 per cent.

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